Textiles supply firm with 148-year history sold in MBO deal
Keighley- based CB Brook & Co, trading as Brook International, has been sold in a management buyout deal.
Brook International is a worldwide supplier of an innovative range of textile fabrics to the flag, banner and digital imaging print industry. The firm was established by Cyrus Brook in 1871 as a manufacturer of worsted fabrics and has been led by four generations of the Brook family. Andrew Brook, who has been MD and a major shareholder for over 30 years, will continue to work within and support the company, helping to grow relationships with new and existing customers and suppliers.
The deal has secured a new board consisting of Chris Drury and Chris Melia, who both become the new joint Managing Directors of the company. Drury has been with the business as the Senior Sales and Commercial Manager for the last seven years and Melia has been with the Company for 17 years as Company Secretary/Management Accountant. Between them they have had responsibility for sales, finance, IT, HR, marketing, and many other commercial duties. They will continue to be responsible for their current areas alongside the new challenges of being Managing Directors.
Melia said: “I am delighted and honoured to have been offered the opportunity to continue to work with such a high-quality management team. The deal has ensured a seamless transition of control from the Brook family and represents an exciting opportunity for both Chris and I to implement our vision for the future. We are very pleased that Andrew Brook has agreed to continue to add his vast knowledge and experience of our industry to our company… exciting times lie ahead for this great Yorkshire business.
“As with any important business change, we will continue to work closely with our customers, partners and suppliers to ensure the transition process is seamless, and we guarantee that our customers will continue to receive the same high standards of service.
“This is the beginning of an exciting period for Brook International, that the Board and management team are confident will facilitate future growth and opportunities for our staff, customers and suppliers alike.”
Andrew Brook added: “It was imperative to secure a successful succession plan for the business given its long-established family ties. I am pleased the two Chris’ were up for the challenge and I look forward to working with them both going forward. I would like to thank Chris Wright and Robert Wilkinson of Armstrong Watson and Duncan Firman of Gordons for all their hard work.”
Armstrong Watson’s Yorkshire corporate finance team, led by Chris Wright, advised on the transaction. The deal was supported with legal advice provided by a team led by Corporate Partner Duncan Firman of Yorkshire law firm Gordons and Umberto Vietri of AWB Charlesworth.
