Manufacturer’s textiles division snapped up by Belgium firm

Leeds-based Stephenson Group is gearing up for further growth following the sale of Stephenson Textiles to Belgium firm EuroDye CTC.

From its Horsforth base, Stephenson Group is a manufacturer and distributer of speciality chemicals with a worldwide customer base. Revenue has continued to grow in 2018, exceeding £24m despite considerable strategic changes in the business, with significant current opportunities for continued growth.

Jamie Bentley

Jamie Bentley, CEO of Stephenson Group, said: “In a market where we continue to grow the personal care business at pace, our challenge has been managing capacity, and we are now pursuing a significant investment programme to support the continued growth of this part of the business. Stephenson Textiles formed the back-bone of the original Stephenson business, but the sale wholly underpins our ongoing focus on Stephenson Group’s future in personal care ingredients.”

Stephenson Textiles develop and supply chemical products to improve and aid the processing of wool, cashmere and other natural and synthetic fibres, and following the sale of Alkon Solutions to US-based Polymer Solutions Group in 2016, was the last non-core division of Stephenson Group.

Based in Jodoigne, Belgium EuroDye CTC is an international specialist in the research, development and production of textile chemical products for natural and synthetic fibres, providing a full range of speciality dyeing and pigment products textile companies and distributors.

Bentley added: “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”

A host of Leeds-based advisers supported Stephenson on the sale to EuroDye CTC. The sale was lead by Sentio Partners (Andrew Barlow and Dave Irwin), with legal support provided by Womble Bond Dickinson (Simon Pilling and James Cook) and tax advisory from RSM (Chloe Ellis).

Andrew Barlow, Director at Sentio Partners, said: “The strategic fit of Stephenson Textiles for EuroDye was clear from the outset. We are delighted to have found a safe home for a Business with a strong heritage, and look forward to supporting Stephenson during an exciting next phase of growth.”

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