Textile firm swoops for neighbouring rival
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Advised on deals worth £300m in the first half of 2017
The 100-year-old Evans Textiles business has swooped to acquire fellow Manchester company Bedmaker Textiles backed by a significant funding package from HSBC.
Evans specialists in providing curtains, blinds, cushions, duvets and upholstery to the hospitality, marine, healthcare and office sectors.
The value of the deal was no disclosed.
Managing director Paul Callan said: “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 already established portfolio.”
Matthew Palmer, HSBC’s relationship director for Greater Manchester, said: “The acquisition of Bedmaker Textiles shows the scale of ambition at Evans Textiles. The business has a clear strategy for growth and the acquisition strengthens an already successful business. We look forward to seeing further growth from Evans Textiles in the future.”
The deal was advised by Myerson Solicitors and Saffery Champness. The team at Myerson Solicitors was led by corporate commercial partner Andrew Brown, who was assisted by corporate commercial solicitor Chris Wilson. Saffery Champness’s partner Mike Hodges and senior manager, Jon Davies, advised on the tax and financial aspects of the transaction.