Synthomer PLC announced the sale of its inorganic chemistry business, William Blythe Ltd, for £30 million. The buyer is a combination of William Blythe’s management team and private equity firm H2 Equity Partners Ltd. They expect the transaction to close by the end of May 2025.
Non-Core Business Identified in 2022 Strategy Review
The divestment follows Synthomer’s 2022 strategic review, which classified William Blythe as a non-core asset. Operating under the company’s Health and Protection and Performance Materials division, William Blythe no longer aligns with Synthomer’s focus on high-growth speciality chemicals.
Financial Performance and Transaction Impact
In 2024, William Blythe recorded sales of £54 million and adjusted EBITDA of £4 million. Synthomer plans to use the proceeds from the sale to reduce group net debt, reinforcing its ongoing efforts to strengthen the balance sheet and optimise its capital structure.
CEO Highlights Strategic Focus and Opportunity
Synthomer CEO Michael Willome stated, “This deal recognises William Blythe’s strong performance and unique strengths over the years. However, the business has limited synergies with the rest of our portfolio. Its sale simplifies our operations and sharpens our focus on higher-value, faster-growing speciality chemicals markets where we hold sustainable leadership positions.”
A Promising New Chapter for William Blythe
As reported by lse.co.uk, Willome added that the sale involves a motivated management team. It is supported by H2 Equity Partners and represents a win-win scenario for all parties. “We wish our William Blythe colleagues every success. They are embarking on the next exciting chapter of the company’s long history,” he concluded.
