Coatings firm buys rival

HI-TECH coatings company Itac has expanded with the acquisition of a North West rival.

Itac, based at Stoneclough, Radcliffe has acquired Rawtenstall firm Texas Coating Developments for an undisclosed sum.
 
Texas was formerly part of Barnsley-based Allied Textiles, but was sold as the Yorkshire firm decided it was not part of its future plans.

The Texas business, which supplies waterproof coatings to textile manufacturers, will be relocated to Itac’s Radcliffe base, the firm said.

Paul Armitt, managing director of ITAC said: “Itac has known and respected the skills of Texas Coating Developments for many years.

“The business offers an excellent fit and an opportunity for Itac to strengthen its position in the specialist textile coating market. We intend to make the transition to Itac ownership seamless for the customers of Texas, many of whom are already known to us. We look forward to continuing and developing those relationships.”

Stewart McGuffie, chief executive of Allied Textiles added: “We were keen to ensure the long term future of Texas, but our investments in recent years have focused on strengthening our core technical textiles business and we were increasingly conscious that Texas was not a good fit with our core strengths.

“Itac are well known in the industry and have a reputation for quality of service and technical excellence. We look forward to a long supply relationship with them.”

The acquisition is expected to boost Itac’s revenues by around £1m to £5m.