"Thanks to the team at Cavendish who ran a thorough, professional and timely process enabling this acquisition to happen at the right time and value for all concerned.’’Malcolm Blackwell ǀ CEO James Dewhurst
Cavendish Corporate Finance, the UK’s leading mid-market sell-side corporate finance firm, is delighted to have advised on the sale of James Dewhurst Limited (‘James Dewhurst’) to Sioen Industries B.V (‘Sioen’) for an enterprise value of £44 million. James Dewhurst generated sales and profits of circa £40m and £6m for the year ended 31 March 2017 and was majority owned by AAC Capital.
James Dewhurst is a leading manufacturer of technical textiles and Europe’s largest producer of open construction laid scrims with production facilities both in the UK and the USA, servicing customers in six industries; Building and Construction, Industrial, Geotextiles, Health and Hygiene, Packaging and Transport.
With this transaction, Sioen, a leading coated technical textile and technical apparel manufacturer listed on the Brussels Stock Exchange, has reinforced the market dominance of its Veranneman Technical Textile division and completes its product range. Sioen now has the capability and expertise to offer customers a full range of woven, laid and laminate scrims and fabrics.
Malcolm Blackwell, CEO of James Dewhurst said:
“This is a great fit for both Companies and will allow James Dewhurst and Sioen to further grow and develop our market leading position in reinforcement textiles. Both our current product ranges clearly complement each other as do our manufacturing plants and experience. This should prove to be an exciting new phase for the business as the combined businesses harness the significant skills and resources we have. Thanks to the team at Cavendish who ran a thorough, professional and timely process enabling this acquisition to happen at the right time and value for all concerned.’’
Philip Barker, Head of Industrials at Cavendish said:
“With the global textiles industry set for continued growth, this complementary acquisition brings together two of the most well-regarded names in the reinforcement textiles industry and continues to demonstrate the resilience of the UK industrials sector post the Brexit vote.”