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.
The business offers a unique opportunity to invest in a company dedicated to providing exceptional care while promoting independence for young adults.
The business was founded over 15 years ago and is well renowned for their holistic service; delivering a compassionate, reliable and professional service to the variety of Children and Adults they support.
The business provides sought after services to assist NHS Mental Health Trusts and CCGs. Currently clients being supported are living with various diagnoses including; Learning Difficulties, Autism, Schizophrenia and Depression.
|
17
|
|
Apr
|
MGroup set to buy infrastructure peer Telent | BUSINESS SALE
Technology infrastructure giant Telent is set to be acquired...
|
16
|
|
Apr
|
Glenfield Storage Solutions collapses | ADMINISTRATION
Glenfield Storage Solutions, a Leicester specialist in wareh...
|
16
|
|
Apr
|
Pulse Cashflow Finance carries out MBO to help under-pressure UK firms | MBO/MBI
Pulse Cashflow Finance has undergone a management buyout (MB...
|
17
|
|
Apr
|
MGroup set to buy infrastructure peer Telent | BUSINESS SALE
Technology infrastructure giant Telent is set to be acquired...
|
16
|
|
Apr
|
Bristol's Giftcloud bought by European peer Recharge | BUSINESS SALE
Bristol-based digital rewards platform Giftcloud has been bo...
|
16
|
|
Apr
|
Pulse Cashflow Finance carries out MBO to help under-pressure UK firms | MBO/MBI
Pulse Cashflow Finance has undergone a management buyout (MB...
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.