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Simon Jagger and Ben Woodthorpe of ReSolve were appointed as Joint Administrators to Zidac Laboratories Limited on 12 May 2022.
Zidac is a leading producer of liquid toiletry products, such as hand sanitisers and hand gels. The Company also manufactures oral care (including mouthwash), hygiene products (handwash, shampoo, body wash, and conditioner), and infection control products and solutions (including surface cleaner).
After several years of manufacturing its core products in oral care and disinfectants, Zidac agilely expanded into hand sanitiser production with the onset of Covid-19. It had immediate success in the early stages of the pandemic however due to receiving bulk orders that were subsequently not honoured and other drains on its working capital, the Company was unable to continue trading. After reviewing several options, it was decided that administration was the best choice.
Zidac operates from leasehold premises in Portsmouth, Hampshire where it has all the necessary facilities to produce more than one million units per week. Its facilities are high-speed and automated, allowing for flexible manufacturing. The Company also has its own laboratory, design, blow moulding and logistics facilities.
Zidac is in receipt of various accreditations, including British Retail Consortium Consumer product group 1 certificate, Sedex – SMETA (Sedex Members Ethical Trade Audit) and ISO 22716, which outlines Good Manufacturing Practices for cosmetic products.
ReSolve is now offering buyers the opportunity to purchase the business and/or assets.
Simon Jagger, Director at ReSolve and Joint Administrator to Zidac, said: “Zidac established itself as a UK leader in the manufacturing of oral care and hygiene products since its founding in 2017. It was with this foundation that it built out a new revenue stream of Covid-19-related products. The ideal purchaser will view Zidac’s facilities and track record as assets and will be willing to invest working capital to revitalise production of the Company’s core products. We believe this is a very exciting prospect for a UK company.”
To learn more about this opportunity, please email Simon.harris@resolvegroupuk.com or Charmaine.doyle@resolvegroupuk.com. Offers are requested by midday on Friday 20 May 2022.
