a2e Venture Catalysts acquire controlling stake in Industrial Latex Compounds
Investment marks seventh investment in last 15 months by venture capital firm
Investment company a2e Venture Catalysts have acquired a controlling interest in Manchester-based Industrial Latex Compounds Ltd (ILC) through principal Amin Amiri, marking the firm's seventh major transaction in the last 15 months.
ILC, originally part of multinational chemical corporation Dow Chemical, manufactures and sells latex compounds for use in carpets and textiles.
Based in Middleton, the firm employs 42 staff and has a turnover of around £16m.
Possessing a predominantly blue-chip client base it claims to be known for its customer service and ability to weather difficult economic conditions.
a2e has announced previous owners Bill Fairhurst and John Davison will remain at ILC for the ‘foreseeable future' but it is unclear in what capacity this will be.
Amin Amiri, principal of a2e Venture Catalysts, commented: “ILC has a great position within this niche sector, and this industry segment is ripe for a bout of consolidation driven by the economic realities and the desire of customers for enhanced innovation and service.
“We are already putting building blocks in place to transform ILC into the most innovative and efficient company in the sector.”
John Davison added: “We have been working closely with Amin Amiri over the past nine months or so before the deal was completed. We were impressed with his vision and integrity and a2e's ethos.
“We are pleased to say that we believe ILC will benefit greatly from a2e's involvement.”