Ulster Carpets, a UK manufacturer of custom designed, wool-rich Axminster carpets and area rugs has acquired Griffith Textile Machines, formerly known as Bonas Griffith based in Sunderland, a manufacturer of textile machinery. The deal consolidates a long-standing relationship between the two companies.
The acquisition kick starts the second phase of Ulster Carpets' proposed Â£35m investment drive.
Phase one was the completion of an Â£8m dye house and energy centre designed to increase manufacturing efficiency. The project will ensure that manufacturing remains in Portadown long-term, securing employment for the area.
David Acheson, Ulster Carpet's head of strategic operations, said that itâ€™s ethos and future plans very much revolve around quality, design excellence and technical innovation, and Griffith Textile Machines fits this perfectly.
They are delighted to have secured this purchase and are excited about the future prospects as the two businesses combine their skills.
Ulster Carpets was advised on all aspects of the purchase by Pinsent Masons' Belfast office.
Dave Watson, Griffith Textile Machines managing director said that joining the Ulster Group is the culmination of a 25-year business relationship and will encourage GTM to achieve its maximum potential to the benefit the group.
With their shared strategic objectives and being such a clear fit, joining the Ulster Group was an obvious next step for both parties.
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