DEAL ANNOUNCEMENT: HURST Team Puts Textiles Deal To Bed

Posted: Nov 13, 2017
Expert:
Nigel Barratt

A team at HURST Corporate Finance has advised the shareholders of a Greater Manchester textiles business on the sale of the company. Associate partner Ian Dawson and corporate finance executive Ryan Niblock advised family-owned Bedmaker Textiles on its sale to Evans Textiles.

Bedmaker, which is based in Denton, Tameside, markets and distributes home textiles such as duvet sets, valances, bedspreads, curtains, throws, towels and nursery products. 

The company, which was established in 1975 and has 15 staff, has built an extensive supplier base across the Far East, the Indian sub-continent, Turkey and Portugal. Its customers include high street and out-of-town stores, mail order companies and wholesalers across the UK.

Evans, which is based in Ancoats, Manchester, supplies soft furnishings, curtains and textiles to the hospitality, marine, healthcare, education and commercial sectors. It is family-owned and employs more than 40 staff, with annual revenues of nearly £12m.

Financial terms of the acquisition have not been disclosed.

Ian Dawson said: “Bedmaker is a great business with an excellent reputation. It was crucial to the shareholders that the business should be acquired by a company with the same values and passion for the brand so its growth could continue.

“There are lots of synergies with Evans Textiles and I am sure Bedmaker will continue to thrive under its new ownership. “It was a pleasure to work with the shareholders on this transaction and I am delighted that we have secured the right deal for them.”

Bedmaker Product Range  Bedmaker Product Range

Mark Winthorpe and Arshnoor Amershi, of Pannone Corporate, provided legal advice to Bedmaker’s shareholders. 

Paul Callan, managing director of Evans Textiles, said: “As a business, we are constantly evolving and diversifying to provide the very best for our customers. “The acquisition of Bedmaker Textiles adds a fantastic supplier and customer base to our portfolio and I am looking forward to building on the success of Evans and developing the business further.”

The deal is the fifth for HURST since the summer, following the acquisition by London-based integrated agency Once Upon A Time of media planning and buying agency MJ Media, the management buyout of marketing consultancy BDB, the sale of Manchester-based lender Positive Cashflow Finance to AIM-listed 1pm and the acquisition by AIM-listed Grafenia of Image Everything, a sign manufacturer and exhibition contractor. Click here to see some of the other deals HURST Corporate Finance have advised on. 

If you are thinking about an MBO, business disposal, or an acquisition please contact us at inspired@hurst.co.uk