Itac Ltd completed the purchase of Texas Coating Developments (Texas) from Allied Textiles Ltd.
The Texas business is currently located on the Allied site in Rawtenstall. ITAC will continue to operate from this site for a period to ensure continuity of supply. However, it is the intention to consolidate operations at the ITAC current site in Radcliffe.
As part of the transaction, ITAC will retain the skills of the key employees of Texas.
Texas has been part of the Allied Group since 1985 and is engaged in the supply of chemicals to the UK Textile Coating Industry.
Commenting on the transaction, Paul Armitt, Managing Director of ITAC said: "Itac Ltd has known and respected the skills of Texas Coating Developments for many years. The business offers an excellent fit and an opportunity for Itac to strengthen it's position in the specialist textile coating market. We intend to make the transition to Itac ownership seamless for the customers of Texas, many of whom are already known to us. We look forward to continuing and developing those relationships."
Stewart McGuffie, Group Chief Executive of Allied Textiles added: "We were keen to ensure the long term future of Texas, but our investments in recent years have focused on strengthening our core technical textiles business and we were increasingly conscious that Texas was not a good fit with our core strengths. Itac are well known in the industry and have a reputation for quality of service and technical excellence. We look forward to a long supply relationship with them."
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