Manchester-based supplier of healthcare and industrial fabrics, Technical Textile Services Ltd, which trades as Techtex, has announced the acquisition of two competitors, Whitminster International Ltd and Klenzeen Ltd.
The sum paid is undisclosed, but the newly-enlarged business enjoys a £20 million plus turnover, and takes the workforce to 90. With two divisions supplying healthcare and industry, the company sources non-woven fabrics and manufactures a range of dry and wet wipe products including branded, private label and generic products.
The company operates from a modern, 70,000 sq ft manufacturing and warehouse facility at the Rhodes Business Park, Middleton, north Manchester. The two acquired businesses share the same directors and are based on a site in Stafford, from where operations will continue.
The founding partners - sales director David Beardsworth, finance director Steve Oldfield and operations director Brian Whitney - are joined by Whitminster and Klenzeen directors Julian Ashworth, who becomes general manager, and David Thompson, who becomes sales manager.
The buy-out is the fourth by Techtex in the past decade. Sales director, David Beardsworth, said: “These acquisitions will further strengthen our offer to customers in healthcare and industry and will enhance our offer to new markets, including significant overseas opportunities…Current customers of all the companies now under Techtex should know that it is business as usual and, thanks to our combined resources, we are focused on an even keener approach to customer service, technical expertise and product quality.”
The acquisition funding was provided by HSBC. Mark Boyle, HSBC UK’s relationship director for Greater Manchester, said: “Technical Textile Services has a strong reputation in its industry and a clear growth strategy. We’re proud to support the company as it expands through this acquisition into new markets; achieving sales growth, boosting its manufacturing capacity and creating new jobs in the area.”
Photo shows: From left to right: Brian Whitney, David Beardsworth, Steve Oldfield, David Thompson, and Julian Ashworth.