A Lancashire-based software company has been acquired by a global textile giant.
GSD Corporate Ltd has become part of the Coats Group plc – a leading industrial thread and consumer textile crafts business – for an undisclosed sum.
We are delighted to be joining Coats following the success of our strategic alliance over the last 12 months.Paul Timson
GSD, based at Walton Summit, near Preston, formed a strategic alliance in May 2014 with the Coats Group.
GSD supplies expert management software that analyses time, cost and production capability in the sewn products sector with the focus on maximising productivity and controlling costs.
The firm will become part of Coats Global Services, which was launched in 2013 in response to customer demands to help them realise productivity and supply chain improvements, develop technical skills and enhance corporate responsibility.
Formed in 1976, GSD is seen as a global market leader, supplying methods analysis and productivity improvement solutions to the sewn products sector.
It is active in more than 68 countries and has more than 5,000 customers worldwide.
Revenues in 2014 were approximately £1.5m.
Paul Timson, managing director of GSD Corporate Ltd, said: ‘This is a great opportunity for GSD and for our customers.
“We are delighted to be joining Coats following the success of our strategic alliance over the last 12 months.
“The combination of GSD’s specialist technical knowledge, data integrity and industry experience married to the global reach, customer and brand relationships, industry stature and consulting expertise of Coats, will provide a transformative, exciting offering.’
Paul Forman, Chief Executive of Coats Group plc, said: ‘We are delighted that GSD will be joining Coats Group. GSD is a world leader in its field, with a comprehensive offering that meets both cost efficiency and social compliance needs at a time when we are seeing growth in demand in these areas. Both companies, and our customers, will benefit from the combination and wider availability of these value adding services.”