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Rival buys Farleyway after five years of talks.

A West Midland chemical firm has been sold for an undisclosed sum to a Surrey rival.

Brenntag UK, part of German group Stinnes, has bought Kingswinford-based Farleyway Chemicals.

Farleyway has a turnover of pounds 10 million while Brenntag has sales of pounds 20 million.

Each employs around 70 people.

The deal, put together by corporate finance house Livingstone Guarantee, was nearly five years in formation.

The first approach from Brenntag was rebuffed by Farleyway owners Mr Zool Gova and Mr Mark Taylor after a price could not be agreed on.

But a second approach earlier this year succeeded.

Both firms are involved in chemicals distribution.

Mr Taylor will be sales director for Brenntag's combined UK operation while Mr Gova becomes a part-time consultant.

The creel manufacturing arm of textiles group Alan Shelton has been bought by the UK division of Germany's Memminger-Iro.

The Leicester firm will continue to trade as Alan Shelton, making and supplying creels for firms in the weft knitting, weaving and yarn texturing industries.
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Publication:The Birmingham Post (England)
Date:Dec 24, 1998
Words:167
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