Seneca Partners backs Rothband deal
NORTH West investor Seneca Partners has teamed up with a former employee to buy a long-standing niche medical products manufacturer.
Seneca has acquired the majority stake in Rossendale company WS Rothband and Co, along with Paul Dixon, and now plans to grow its product range and internationalise sales.
WS Rothband was established in 1860 and has been supplying the NHS with items such as lead aprons for X-Ray operators for almost 70 years. It has around a dozen staff.
Tim Murphy, director of Seneca Partners, who will join the board, said: “Rothband is exactly the type of business we are looking to support and develop.
“This long standing niche manufacturer provides an ideal platform for expansion and we are delighted to be supporting Paul Dixon’s exciting growth plans.”
The deal was funded by FW Capital, Rosebud Business Finance (Lancashire County Council) and Ultimate Invoice Finance.
Dixon, who spend seven years working for Rothband before moving to a US healthcare manufacturer, said: “One of the key factors in completing this acquisition and being able to successfully implement our growth plan, was always going to be finding the right team.”
Richard Robinson, partner of Lancashire law Napthens, provided legal advice to Seneca Partners and Jim Akrill, managing director of PM & M, provided corporate finance advice.
