REG - Synthomer PLC - Divestment of William Blythe

SynthomerAnnouncement

Tue 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250506:nRSF4304Ha&default-theme=true

RNS Number : 4304H  Synthomer PLC  06 May 2025

Synthomer plc

Divestment of William Blythe

 

Synthomer plc ('Synthomer' or 'the Group') today announces an agreement to
divest William Blythe limited, its inorganic chemistry business, to its
management team alongside H2 Equity Partners, for consideration of £30m.

 

Founded in 1845, William Blythe has pioneered the development and use of
inorganic derivatives of elements such as tin, iodine, copper, zinc and
tungsten for demanding applications in markets including life sciences,
performance coatings, polymers, electronics, catalysts and renewable energy
for 180 years. The business has approximately 85 employees based at its UK
manufacturing site in Accrington, Lancashire. William Blythe is part of
Synthomer's Health & Protection and Performance Materials division and was
designated as non-core to the Group as part of the strategic review announced
in October 2022.

 

In the year ended 31 December 2024, William Blythe generated sales of £54m
and stand-alone adjusted EBITDA of £4m. The transaction is conditional on
certain customary closing conditions, is expected to complete at the end of
May 2025, and the net proceeds will be used to reduce Group net debt.

 

Commenting, Synthomer CEO Michael Willome said:

"Today's announcement recognises William Blythe's unique attributes and strong
performance over many years as part of Synthomer. At the same time, the
business has limited synergies with the rest of the Group and its divestment
will further reduce the complexity of our site portfolio and enhance our focus
on higher value, higher growth speciality chemicals markets where we have
strong and sustainable leadership positions. With the divestment to the
ambitious management team backed by H2 Equity Partners, I am confident this is
a win-win transaction for all involved and wish all our William Blythe
colleagues well for the next exciting chapter in its long history."

 

 

Further information:

 Investors: Faisal Tabbah, Vice President Investor Relations  Tel: +44 (0) 1279 775 306
 Media: Nick Hasell, FTI Consulting                           Tel: +44 (0) 203 727 1340

 

Notes

Legal Entity Identifier (LEI): 213800EHT3TI1KPQQJ56. Classification as per DTR
6 Annex 1R: 3.1.

 

Synthomer plc is a leading supplier of high-performance, highly specialised
polymers and ingredients that play vital roles in key sectors such as
coatings, construction, adhesives, and health and protection - growing markets
for customers who serve billions of end users worldwide. Headquartered in
London, UK and listed there since 1971, we employ c.4,000 employees across our
five innovation centres of excellence and 31 manufacturing sites across
Europe, North America, Middle East and Asia. With more than 6,000 blue-chip
customers and £2.0bn in continuing revenue in 2024, our business is built
around three divisions, serving customers in attractive end markets where
demand is driven by global megatrends including urbanisation, demographic
change, climate change and sustainability, and shifting economic power. In
Coatings & Construction Solutions, our specialist polymers enhance the
sustainability and performance of a wide range of coatings and construction
products. We serve customers in applications including architectural and
masonry coatings, mortar modification, waterproofing and flooring, fibre
bonding, and energy solutions. In Adhesive Solutions our products help our
customers bond, modify and compatibilise surfaces and components for
applications including tapes and labels, packaging, hygiene, tyres and plastic
modification, improving permeability, strength, elasticity, damping,
dispersion and grip. In Health & Protection and Performance Materials we
are a world-leading supplier of water-based polymers for medical gloves, and a
major European manufacturer of high-performance binders, foams and other
products serving customers in a range of end markets. Our purpose is creating
innovative and sustainable solutions for the benefit of customers and society.
Around 20% of our sales volumes are from new and patent protected products. At
our innovation centres of excellence in the UK, China, Germany, Malaysia and
Ohio, USA we collaborate closely with our customers to develop new products
and enhance existing ones tailored to their needs, with an increasing range of
sustainability benefits. Our 2030 decarbonisation targets have been approved
by the Science Based Targets initiative as being in line with what the latest
climate science says is necessary to meet the goals of the Paris Agreement,
and since 2021 we have held the London Stock Exchange Green Economy Mark,
which recognises green technology businesses making a significant contribution
to a more sustainable, low-carbon economy. Find us at www.synthomer.com
(http://www.synthomer.com) or search for Synthomer on LinkedIn.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISUVUKRVUUVRAR