Sentio has advised Leeds based Stephenson Group Limited on the sale of Alkon Solutions Limited, which has been acquired by Polymer Solutions Group (“PSG”), a US based producer of polymer and polymer additives systems.
Alkon Solutions, a subsidiary of the Stephenson Group is a leading manufacturer of speciality chemicals in the personal care sector. Alkon manufactures anti-tack products for the rubber industry, with a number of high profile customers in the automotive tyre market.
PSG is backed by Private Equity investor Arsenal Capital. PSG is a leading manufacturer of formulated polymer and polymer additive systems that improve processing, performance and surface protection of their customer’s products. Based in Albany, Georgia PSG’s SASCO business also manufactures anti-tack systems for the rubber market.
Mike Ivany, CEO of PSG added “The acquisition of Alkon Solutions fits perfectly with our plan to expand our polymer additive product portfolio and to build out our global polymer platform. The complimentary nature of SASCO Chemical and Alkon Solutions’ anti-tack products will help to expand our efforts to support our customers globally and to meet the processing and technology needs of the world’s rubber industry.
“I am delighted with the sale of our rubber business Alkon Solutions Ltd to PSG, it will form a big part of their expansion and continue under the new ownership to go from strength to strength” said Jamie Bentley, CEO of Stephenson Group.
He added “From the perspective of Stephenson Group, a key part of our strategy has been to divest our non-core businesses. The sales of both our ‘Serfax’ and ‘Alkon’ businesses demonstrate our focus on our future in personal care ingredients. The market is buoyant, and we are looking forward to further organic growth, together with growth by acquisition – indeed we acquired the key assets of a competitor last week to support our growth in the sector. Sentio have played a key role in the recent transactions and not only maximising value, but also managing the transactions seamlessly.”
Andrew Barlow and Dave Irwin acted as lead advisers to Stephenson Group on the transaction.
“This was a great result for all parties. Having worked with Jamie and the team to understand the heritage of Alkon, it was crucial that we found the right acquirer to maximise the future potential of the business. From PSG’s point of view, there was a clear strategic rationale for the acquisition, which will accelerate their European growth in anti-tack products” said Andrew Barlow.
