Mon, 18 Oct 2010 | BUSINESS NEWS
A Bury-based textile company has been saved from administration after being acquired by entrepreneur Bill Collins, who has added it to his fabric weaving group.
The dyeing and finishing business Blacksheep Textiles - based on Bolton Road, Hawkshaw - went into administration in September this year.
Now, textile entrepreneur Collins has acquired the company in a 'strategic move' and added £1.6 million to his group's turnover in the process. He has also saved 20 jobs.
More than 80 per cent of Blacksheep's revenues come from Mr Collins' Clitheroe-based Thornber Home & Leisure business, the company he formed over the summer to enable a buyout of the £5 million-turnover fabric manufacturer James Thornber.
The business weaves fabrics for upholstery, curtains, blinds and other furnishings and operates in the domestic and contract markets.
Collins said, “This acquisition is an ideal strategic one for Thornber. We have had a close working relationship with Blacksheep Textiles for some time and the synergies will benefit our enlarged operation. It means Thornber can add a string to its bow by bringing the dyeing and finishing in-house,” he added.
Collins said he plans to splash out spend £1 million on upgrading Blacksheep's operations over the next 18 months. The Royal Bank of Scotland provided funding for the acquisition.
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
|
02
|
|
May
|
Scottish law firms WJM and Davidson Chalmers Stewart merge | MERGER
Scottish law firms Wright, Johnston & Mackenzie LLP (WJM) an...
|
01
|
|
May
|
Cybersecurity firm Brigantia bought by European peer | BUSINESS SALE
North Yorkshire cybersecurity distributor Brigantia Partners...
|
01
|
|
May
|
Historic pottery company Moorcroft goes out of business | ADMINISTRATION
The directors of 128-year-old Moorcroft Pottery have announc...
|
02
|
|
May
|
Scottish law firms WJM and Davidson Chalmers Stewart merge | MERGER
Scottish law firms Wright, Johnston & Mackenzie LLP (WJM) an...
|
01
|
|
May
|
McCann and Partners undergoes an MBO | MBO/MBI
A team of five directors at South Wales engineering and buil...
|
01
|
|
May
|
Historic pottery company Moorcroft goes out of business | ADMINISTRATION
The directors of 128-year-old Moorcroft Pottery have announc...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.