Stephenson sells its final non-core business to Eurodye CTC

Leeds-based Stephenson Group Textile Chemicals has been acquired by Eurodye CTC, a global provider of surface-active products specially developed for the textile industry, based in Belgium

Stephenson Group Textile Chemicals is a subsidiary of the Stephenson Group which manufactures and distributes specialty chemicals to customers worldwide.

A world leader in speciality chemicals from raw fibre to finished product, Stephenson Textile Chemicals develop and supply products to improve and aid the processing of wool, cashmere and other natural and synthetic fibres. From its manufacturing plant in Horsforth, Stephenson Group has established itself as a world-leading speciality soap base manufacturer and continues to meet the demands of high profile personal care customers worldwide.

Launched in Bradford in 1856, Stephenson Textile Chemicals formed the back-bone of the Stephenson Group business for over 150 years. The sale of the business will see Stephenson Textile Chemicals forming a key part of Eurodye CTC’s business future and marks the sale of Stephenson Group’s last non-core personal care business division allowing focus to be maintained exclusively on the personal care ingredients sector. In 2016, Stephenson Group subsidiary Alkon Solutions, which specialised in manufacturing anti-tack products for the rubber industry, was sold to Polymer Solutions Group (PSG) in the US.

Based in Jodoigne in Belgium, Eurodye CTC is an international specialist in the research, development and production of textile chemical products for natural and synthetic fibres. It provides a full range of speciality dyeing and pigment products textile companies and distributors. The group sells its products to more than 300 customers, distributors and agents across the world facilitated by an established distribution network in more than 55 countries.

Robin Richardson, general manager of Stephenson Textile Chemicals will also join Eurodye CTC ensuring continuity of expertise and customer service together with seamless transition of all data and production processes. Manufacturing will be transferred over the next four months from Horsforth to Eurodye CTC’s own production facilities in Belgium.

Jamie Bentley, chief executive of Stephenson Group, added: “The sale of our textile business marks a big moment in the long and distinguished history of Stephenson Group. It also forms a key part of the expansion strategies of both businesses. Under the new ownership, I have no doubt the textile chemicals division will go from strength to strength as Eurodye CTC has a formidable international presence.

“Over the past decade, the Stephenson Group has focussed all its energy on growth in other sectors and as a result felt that Eurodye CTC was the best partner to ensure the long-term prosperity of our textile chemicals business. Most importantly the sale represents the final part in our ongoing strategic plan to divest our non-core businesses and wholly underpins our ongoing focus on Stephenson Group’s future in personal care ingredients.”

Sentio Partners acted as lead advisers to Stephenson Group on the transaction with legal support provided by Womble Bond Dickinson and tax advisory from RSM.

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