Member Article

Sunderland textile business GTM acquired by Portadown carpet manufacturer

Carpet manufacturer Ulster Carpet Mill Holdings Ltd has acquired Sunderland-based Griffith Textile Machines (GTM), a designer and manufacturer of textiles machinery, for an undisclosed sum.

Portadown-headquartered Ulster Carpets, which has been using GTM machinery for 25 years, employs 590 people and has a turnover of £65m. The firm’s carpets have been used in a number of high profile venues, such as The Savoy in London.

Dave Watson, GTM managing director, said: “Being such a clear fit, with our shared strategic objectives, joining the Ulster Carpets group was an obvious next step for both parties.

“We are thrilled with the rare opportunity to focus on developing innovative solutions based on our joint, peerless technologies.

“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, staff and customers.”

David Acheson, Ulster’s head of strategic operations, added: “Ulster’s ethos and future plans very much revolve around quality, design excellence and technical innovation, and GTM fits this perfectly.

“We are delighted to have secured this purchase and are excited about the future prospects as the two businesses combine their skills.”

Formerly known as Bonas Griffith, GTM’s selling shareholders were advised by Muckle LLP, one of the North East’s leading law firms for business.

Anthony Evans, Muckle LLP partner, led the deal with support from Matthew Walsh and Sara Worsick.

Ant said: “There are some fantastic synergies between GTM and Ulster, building on their trading relationship. This was reflected in the deal itself which was very positive and concluded smoothly.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →