Waste oil recycler OSS Group is to be sold by its owner, private equity firm Dunedin, according to media reports.
The OSS Group uses waste lubricating oil, collected from garages and servicing centres, to produce a processed fuel oil (PFO), equivalent to virgin fuel oil and known as clean fuel oil. The firm estimates that 800,000 tonnes of waste oil is produced in the UK each year. The PFO is used in the shipping industry and the glass-making process.
Neither OSS nor Dunedin could comment when MRW contacted them. It is believed Grant Thornton is heading up the sale but it could not comment either. According to the Financial Times, OSS is likely to be put on the market for £50m.
In 2007, OSS successfully won a long-running battle with the Environment Agency over whether waste lubricating oil can be recovered to non-waste status before it is used as fuel.