Cosalt
Encyclopedia
Cosalt plc
was a diversified marine
safety and leisure company, based in Grimsby
, Lincolnshire
. It was a constituent of the FTSE Fledgling Index
.
The name Cosalt was a portmanteau of the company's original title The Great Grimsby Coal, Salt and Tanning Company. Formed in 1873 as a co-operative of fishing vessel owners, it was a communal best-value support services company involved in servicing and supplying a variety of products and services for fleets, fishing, and other vessels, providing:
The communal model grew around a number of other fishing and later UK marine ports, before the company was bought out by the son of one of the original founders, businessman (John) Carl Ross
of the Ross Group
. The company floated in 1971, and was chaired by his son; and then grandson David Ross
, co-founder of the Carphone Warehouse. The original businesses has now developed into marine and industrial safety centre, and diversified into other markets, including: Workwear and Corporatewear.
caravan
market. It created the Piper brand, and after the failure of Sam Alper
's Caravans International bought its brands, including: ACE, Abbey, Bessacarr, Sprite; and later the independent Cotswold brand. However, in the 1990s they began concentrating on static caravans, and sold off many of the touring caravan brand to the rival Swift Leisure
. In the mid-2000s and looking to sell the Leisure business, the division was eventually sold to Leeds based turnaround specialists Endless Fund, but collapsed into administration 12months later. After losing 240 jobs and one factory, it was bought by a management team and renamed Cosalt Custom Homes, preserving 20jobs.
Public limited company
A public limited company is a limited liability company that sells shares to the public in United Kingdom company law, in the Republic of Ireland and Commonwealth jurisdictions....
was a diversified marine
Marine (ocean)
Marine is an umbrella term. As an adjective it is usually applicable to things relating to the sea or ocean, such as marine biology, marine ecology and marine geology...
safety and leisure company, based in Grimsby
Grimsby
Grimsby is a seaport on the Humber Estuary in Lincolnshire, England. It has been the administrative centre of the unitary authority area of North East Lincolnshire since 1996...
, Lincolnshire
Lincolnshire
Lincolnshire is a county in the east of England. It borders Norfolk to the south east, Cambridgeshire to the south, Rutland to the south west, Leicestershire and Nottinghamshire to the west, South Yorkshire to the north west, and the East Riding of Yorkshire to the north. It also borders...
. It was a constituent of the FTSE Fledgling Index
FTSE Fledgling Index
The FTSE Fledgling Index consists of under 200 UK companies outside of the FTSE All-Share Index.This Index is calculated in real-time and published every minute.-Current constituents of the FTSE Fledgling Index:*AEA Technology*AXA Property Trust Ld...
.
The name Cosalt was a portmanteau of the company's original title The Great Grimsby Coal, Salt and Tanning Company. Formed in 1873 as a co-operative of fishing vessel owners, it was a communal best-value support services company involved in servicing and supplying a variety of products and services for fleets, fishing, and other vessels, providing:
- SaltSaltIn chemistry, salts are ionic compounds that result from the neutralization reaction of an acid and a base. They are composed of cations and anions so that the product is electrically neutral...
- to preserve the food and fish caught - TanningTanningTanning is the making of leather from the skins of animals which does not easily decompose. Traditionally, tanning used tannin, an acidic chemical compound from which the tanning process draws its name . Coloring may occur during tanning...
- to waterproof sailSailA sail is any type of surface intended to move a vessel, vehicle or rotor by being placed in a wind—in essence a propulsion wing. Sails are used in sailing.-History of sails:...
s and ropeRopeA rope is a length of fibres, twisted or braided together to improve strength for pulling and connecting. It has tensile strength but is too flexible to provide compressive strength... - CoalCoalCoal is a combustible black or brownish-black sedimentary rock usually occurring in rock strata in layers or veins called coal beds or coal seams. The harder forms, such as anthracite coal, can be regarded as metamorphic rock because of later exposure to elevated temperature and pressure...
- to fire the vessels and galleys - ClothingClothingClothing refers to any covering for the human body that is worn. The wearing of clothing is exclusively a human characteristic and is a feature of nearly all human societies...
The communal model grew around a number of other fishing and later UK marine ports, before the company was bought out by the son of one of the original founders, businessman (John) Carl Ross
Carl Ross
Carl Ross was a fishery entrepreneur and architect of the forerunner company to Young's Bluecrest, the UK's largest frozen fish producer.-Biography:...
of the Ross Group
Ross Group
The Ross Group was a British food company founded in Grimsby, England in 1920.The Ross brand remains common in the retail frozen fish market...
. The company floated in 1971, and was chaired by his son; and then grandson David Ross
David Ross (businessman)
David Peter John Ross , is an English businessman, co-founder with school friend Charles Dunstone of The Carphone Warehouse. At peak valuation of his business interests, Ross was one of the 100 richest people in the United Kingdom. A profile in The Daily Telegraph put his current net worth at...
, co-founder of the Carphone Warehouse. The original businesses has now developed into marine and industrial safety centre, and diversified into other markets, including: Workwear and Corporatewear.
Leisure
Through its association with Grimsby, Cosalt was a major player in the UKUnited Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
caravan
Travel trailer
A travel trailer or caravan is towed behind a road vehicle to provide a place to sleep which is more comfortable and protected than a tent . It provides the means for people to have their own home on a journey or a vacation, without relying on a motel or hotel, and enables them to stay in places...
market. It created the Piper brand, and after the failure of Sam Alper
Sam Alper
Samuel Alper OBE was a London born caravan designer and manufacturer responsible for the famous Sprite caravan, founder of the Little Chef chain of roadside restaurants, a viticulturist who revived the ancient Roman winery at Chilford Hall, a sculptor, the founder of the Curwen Print Study Centre...
's Caravans International bought its brands, including: ACE, Abbey, Bessacarr, Sprite; and later the independent Cotswold brand. However, in the 1990s they began concentrating on static caravans, and sold off many of the touring caravan brand to the rival Swift Leisure
Swift Leisure
Swift Leisure are a British manufacturer of leisure vehicles, including caravans and motorhomes. Started in 1965, the company is based in Cottingham, East Riding of Yorkshire....
. In the mid-2000s and looking to sell the Leisure business, the division was eventually sold to Leeds based turnaround specialists Endless Fund, but collapsed into administration 12months later. After losing 240 jobs and one factory, it was bought by a management team and renamed Cosalt Custom Homes, preserving 20jobs.
External links
- Cosalt plc, the listed company
- Cosalt.com - main operating division, marine safety
- Cosalt Custom Homes former holiday home division, now independent