Synthomer PLC announced Tuesday it has reached an agreement to divest its inorganic chemistry business, William Blythe Ltd., for £30 million. The buyer is a consortium comprising William Blythe’s current management team and H2 Equity Partners, a European private equity firm focused on investing in mid-sized companies with growth potential.

The transaction is expected to close by the end of May 2025, subject to customary closing conditions. Net proceeds from the sale will be used to reduce Synthomer’s group net debt, the company said.

Founded in 1845, William Blythe has built a reputation as a leader in the development and application of inorganic chemical derivatives. These include compounds based on tin, iodine, copper, zinc and tungsten. The company’s specialty chemicals are used in high-performance applications across a broad range of sectors, including life sciences, performance coatings, polymers, electronics, catalysts and renewable energy.

Based in Accrington, Lancashire, William Blythe operates a manufacturing facility staffed by approximately 85 employees. The company has been part of Synthomer’s Health & Protection and Performance Materials division but was designated as a non-core asset during a strategic review announced in October 2022.

In the fiscal year 2024, William Blythe reported sales of £54 million and a stand-alone adjusted EBITDA of £4 million.

“This transaction reflects William Blythe’s strong legacy and performance over many years within Synthomer,” said Michael Willome, chief executive officer of Synthomer. “However, the business has limited integration with our core operations. Divesting it will simplify our site portfolio and allow us to sharpen our focus on high-value, high-growth specialty chemical markets, where we maintain strong and sustainable leadership positions.”

Willome described the sale as a mutually beneficial move and expressed confidence in the new owners' ability to steer William Blythe into its next phase.

“With the business transferring to an ambitious management team backed by H2 Equity Partners, we believe this is a win-win scenario,” he said. “We thank our colleagues at William Blythe for their valuable contributions and wish them continued success in the future.”

The decision to divest William Blythe aligns with Synthomer’s ongoing strategy to streamline its operations and concentrate resources on businesses that offer stronger long-term growth potential and operational synergies. The company has been restructuring its portfolio in recent years to strengthen its position in key markets such as adhesives, coatings, and health protection.

Synthomer, headquartered in the United Kingdom, is a leading supplier of high-performance, specialty polymers and additives used in industries ranging from construction to healthcare.