Textile giant comes calling for software firm
A SMALL Lancashire textile software specialist has been snapped-up by international indistrial giant Coats Group.
Preston-based GSD Corporate, which has annual revenues of £1.5m, and which has had a strategic alliance with $1.7bn revenue group Coats since May 2014, has been acquired for an undisclosed sum.
GSD supplies expert management solutions that analyse time, cost and production capability in the sewn products sector, with the focus on maximising productivity and controlling costs.
Post-acquisition GSD will become part of Coats Global Services, which was launched in 2013 in response to customer demands to help them realise productivity and supply chain improvements, develop technical skills and enhance corporate responsibility.
Paul Forman, chief executive of Middlesex-based Coats Group said: “We are delighted that GSD will be joining Coats Group. GSD is a world leader in its field, with a comprehensive offering that meets both cost efficiency and social compliance needs at a time when we are seeing growth in demand in these areas.
“Coats is also a recognised industry leader, with longstanding expertise and deep industry relationships. Both companies, and more importantly our customers, will benefit from the combination and wider availability of these value adding services.’
Paul Timson, managing director, GSD (Corporate) added: “This is a great opportunity for GSD and for our customers. We are delighted to be joining Coats following the success of our strategic alliance over the last 12 months. The combination of GSD’s specialist technical knowledge, data integrity and industry experience married to the global reach, customer and brand relationships, industry stature and consulting expertise of Coats, will provide a transformative and exciting offering.”
The Manchester office of Laytons Solicitors advised the shareholders of GSD Corporate. Partner Barney Leaf said: “The sale involved a buyer and seller that wanted the deal to happen as they realised the business would be much stronger with their forces combined and it will be interesting to watch the business develop considering how clearly the two parties work together “.
The transaction also involved Tony Wooley of Pareto Wealth Management who advised the vendors.
