History of SSL

SSL International plc was created as a result of two back-to-back mergers:

• Seton Healthcare plc and Scholl plc in July 1998 forming Seton Scholl Healthcare plc; and
• London International Group plc in May 1999.

Seton Healthcare plc

Seton Healthcare plc (“Seton”) was founded in 1952 by Ivor Stoller selling tubular bandages. Subsequently, Seton developed both its consumer business, by acquiring a range of over-the-counter remedies, such as Full Marks Mousse and Meltus and its medical business by developing its existing products to cover a wider range wound management issues and also by acquisition of new businesses such as continence care products.

Scholl plc

Scholl plc was founded in 1904 by Dr William M Scholl selling footcare products and footwear under the Scholl brand.

London International Group plc

London International Group plc (“LIG”) was founded in 1915 as The London Rubber Company by LA Jackson, selling imported condoms and barber shop supplies. Subsequently, LIG developed a broad product portfolio selling into consumer markets with Durex and health and beauty products, into medical markets with Regent surgical gloves and business-to-business with Marigold Industrial Gloves.

SSL International plc

As a result, SSL was a mix of consumer and medical brands and began a strategic repositioning process, which initially focused on non-core products and brands. This resulted in the sale of the continence care business and the ‘tail’ of the UK OTC portfolio.

In March 2003, the Board announced its most significant strategic decision to date. SSL was to be repositioned as a focused consumer healthcare business and to realise the value of its medical and industrial businesses by means of divestment. This divestment process was completed in four separate transactions from November 2003 through to October 2004, selling Marigold Industrial Gloves, the wound management business, the Regent Infection Control business and finally Silipos. 

In completing this divestment process gross proceeds of £260 million were generated which was used to pay down existing debt levels and, importantly, for the first time since its creation, SSL was uniquely positioned to focus on the development and growth of its consumer brands.