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Synthomer PLC on Tuesday said it has agreed to sells its inorganic chemistry business William Blythe Ltd to its management team alongside H2 Equity Partners Ltd for £30 million. The London-based developer of highly specialised polymers said William Blythe, which is part of its Health & Protection and Performance Materials division, was designated as non-core to the group following a strategic review in 2022. William Blythe generated sales of £54 million and adjusted earnings before interest, tax, depreciation and amortisation of £4 million in 2024. Synthomer said net proceeds from the transaction, which it expects to complete at the end of May, will be used to reduce group net debt. Synthomer Chief Executive Officer 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.’ Shares in Synthomer were down 2.5% at 90.70 pence at midday in London on Tuesday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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