Management looks for new niches after Vickers buyout

Three long-standing members of the management team paid an undisclosed sum for the 2.25m turnover business.

They bought it from the current majority shareholder and chief executive, Julian Driver.

Leeds-based Vickers makes and distributes speciality chemicals. It hit the headlines in 2004 when it made the chocolate for the Hollywood film, Charlie and the Chocolate Factory.

Steve Foster, the new managing director, said his plan is to grow the business in a profitable way.

"We are a niche market player and we want to discover new niches and expand into these," he told the Yorkshire Post.

Mr Foster, previously operations director, Phil Constantine, operations manager, and Paul Bottomley, quality and supply chain manager, bought the business with support from Barclays.

All three have been with the company for more than 20 years.

Mr Driver said: "It has been very exciting and fulfilling on a personal level to see the team I have worked with and mentored over many years become the new owners of the business.

"It is a team of people with a tremendous track record and the ability and skills to take the company forward to the next level."

Vickers was founded in 1974 and employs 22 people.

Accountancy firm Sagars and lawyers at Gordons and Milners Solicitors advised the management team, while Garbutt & Elliott provided advice to the vendor.