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Scottish textile company expands American presence with factory acquisition
Angus-based textile company Wilkie has acquired the Bradford Industries factory in Lowell, Massachusetts, for an undisclosed sum.
The move expands Wilkie’s American presence, adding 25 employees and £6.25 million in revenue. The Scottish company, in business since 1868, specializes in textiles and industrial materials.
The acquisition is expected to bolster Wilkie’s growth in the U.S. market, an important focus for the company.
Executive chief Hamish Rowanthe sixth generation of the family business, told The Courier: “Wilkie’s acquisition of Bradford Industries not only increases our industrial presence, but also cements our commitment to cutting-edge development in the technical textiles industry.
“The unit will continue to specialize in key markets such as airbag coatings, cast polymer films, parachute coatings and high-performance sports equipment, military applications and advanced coatings for various industrial applications.”
Rowan said the new unit, renamed Wilkie America, “will continue to specialize in key markets such as airbag coatings, cast polymer films, parachute coatings and high-performance sports equipment, military applications,” as well as advanced coatings for various industrial applications. Wilkie plans significant investments in research and development at this facility.
The integration of existing US sales activity is expected to add an additional £4 million in revenue. Avidia Bank in Massachusetts helped finance the asset purchase.
Wilkie foresees significant synergies between Wilkie Scotland, which supplies fabrics, and Wilkie America, which resells and resells them. This move is expected to strengthen Wilkie’s value chain and pave the way for a prosperous future.