370-acre chemical business complex in Hull now under new ownership

px group, the Teesside-based infrastructure solutions business, has acquired the Saltend Chemical Park at Hull.

Following the transaction, px group is also providing energy, infrastructure, operations and maintenance services on the 370 acre site.

The company intends to work with existing and new operators to develop and expand the park, which was established in 1914 and has, for the last 50 years, been owned by BP.

Mark Lazenby, Head of Square One Law’s corporate team, said: “This deal has been transformational for px.

“It is already known in the marketplace for its strong track record operating critical infrastructure and this transaction was the logical next step to differentiating its offer, as Saltend Chemical Park is one of the UK’s most important industrial complexes.”

The park currently comprises a cluster of businesses that manufacture more than a million tonnes of chemical products a year. These are used in everyday items including clothing, paints, pharmaceuticals and packaging.

Global companies operating at the upper tier COMAH site are Air Products, BP, Engie, INEOS, Nippon Gohsei, Perenco, Vivergo and Yara.

As part of the acquisition, around 50 BP jobs have transferred employment to px.

Corporate partner, James Bryce, added: “The corporate team has been delighted to assist in the delivery of such a complicated and important transaction which has been achieved through the strong working relationship between px group management, its shareholders and our team.”

Established as an independent company in 2002 and with an operating history going back to 1992, px specialises in managing, operating and maintaining some of Europe’s largest industrial facilities.

Mark Kendrick, px chief executive officer, also said: “This marks a major new chapter in the development and diversification of our business. The provision of industrial utility services on a large COMAH site is a natural extension of our core competence in gas processing, power plant and midstream infrastructure operations.

“Our huge experience operating and maintaining plants on sites like this and in the processes carried out, makes this an ideal opportunity for px.

“Over the coming weeks we will focus on a safe transition with uninterrupted supply of services and utilities to our on-site partners. Our drive will then be to develop the park further and attract more manufacturers to benefit from the unique competitive advantages it offers, whilst, of course, ensuring we provide a first rate service to the existing site partners.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →