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Fibres/​Yarns/​Fabrics

American firm takes over UK based Multiple Winding Company

The acquisition is expected to allow the company to gain entry to European markets for highly specialised industrial textile yarns, Manchester Evening News reports.

15th April 2015

Innovation in Textiles
 |  Manchester

Transport/​Aerospace, Industrial, Civil Engineering

The leading producer of specialised textile products, such as yarn and fabric weaving, was bought by the American company, founded in 1991 and based in North Carolina. B&W Fiber Glass produces and supports a wide range of reinforcement and textile products and operates in complementary markets to Multiple Winding.

Incredible opportunity

Chris Shaw, Managing Director and owner of Multiple Winding is retiring after 45 years with the business founded in 1916 and in his family for two generations, according to the newspaper.

“Deciding to finally retire was an incredibly difficult decision for me, and my family, to take, and it was extremely important to me that the company’s future, and that of my staff, all of who I highly value, was secured,” Mr Shaw told the newspaper.

Brent Beason, President of B&W Fiber Glass, added: “Mr Shaw has provided us with an incredible opportunity to take MWC forward into the next century of growth. It is rare to find an organisation in today's age that shares our family-based values and vision. We welcome the 40-plus MWC team members along with their customers to the BWF family.”

Entry to European markets

The acquisition is expected to allow the company to gain entry to European markets for highly specialised industrial textile yarns used in the electrical, aerospace and construction markets. The jobs of all 45 staff have been secured by the transaction.

The deal was brokered by accountants and business advisors Beever and Struthers. Caroline Monk, partner at the company, told the newspaper: “Multiple Winding manufactures and supplies highly specialist products to hi- tech businesses throughout mainland Europe.”

“Overseas companies want to acquire British businesses because the perception abroad is of them offering access to a skilled workforce, quality products and strong customer relationships.”

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