Euston Ventures swoops for chemicals company

Euston Ventures has completed the acquisition of Hammond Chemicals, a Brierley Hill-based supplier of blended industrial solvents.

As part of the transaction, Jim Ward will take over as CEO of Hammond Chemicals, and the third generation of the Hammond Family will continue in the business as part of the leadership team.

Established in 1969, Hammond Chemicals is a leading blender, packager, and distributor of industrial solvents.

Seeking a swift transition of ownership, Euston – which has a history of acquiring speciality manufacturing, engineering, and technical service businesses – approached Shawbrook which provided a flexible commercial loan to complete the acquisition.

The acquisition was also supported by Search Fund investor and entrepreneur Jim Ward, who joins as Hammond’s new CEO.

Mark Dominik at Euston Ventures said: “It’s been a pleasure working with the Hammond family and Jim Ward to support the next stage of development for this long-running family business. It is our intention to be thoughtful stewards of the heritage established by the Hammond family, and to continue to be the supplier of choice for customers in the West Midlands who need a reliable and responsive partner.

“We’d also like to thank Shawbrook, who we’ve worked with on other transactions over the past 12 months. Their continued support has led to a long lasting, fruitful relationship which meant we were able to move from IM to IOT in just a few days.”

Jim Ward, CEO, said: “I am delighted to be taking the helm at Hammond Chemicals and look forward to working with the experienced and motivated team here as we transition this fantastic business to its next stage of growth.

“The move to Hammond is a very exciting opportunity for me as CEO of the business and I believe that we have built a strong partnership with Shawbrook, Euston and the Hammond family to take the business forward.”

Oliver Sutton at Shawbrook, said: “We were more than happy to work with Euston again as they have a good understanding of our process. This was key in working with Hammond, as this enabled us to focus on deal structuring – something which was key throughout the credit process. As such, we were able to refine the structure to everyone’s satisfaction whilst keeping the closing process on track.”