WILKIE, a global leader in technical textiles based in Kirriemuir, Scotland, has acquired Bradford Coatings in Lowell, Massachusetts, USA. This strategic acquisition marks the group’s expansion into North America, underscoring its dedication to growth, innovation, and producing high-quality products in the USA.
The acquisition was facilitated by accountancy and business advisory firm BDO, with input from their Glasgow, London, and Boston teams ensuring a seamless transaction. Legal advice was provided by Boston-based law firm Nutter, and Avidia Bank in Massachusetts supported the deal with funding.
This acquisition enhances Wilkie’s manufacturing capabilities and reinforces its commitment to pioneering developments in the technical textiles industry. The Lowell facility, featuring a five-station coating line with flip station and one-side lamination, is set for significant growth following this transaction.
The deal secures the jobs of 25 experienced employees and adds $8 million to Wilkie’s revenue. The Lowell site will continue to specialize in key markets such as airbag coating, cast polymer films, parachute and sports equipment coating, military tentage, and advanced coatings for various industrial applications. Additionally, Wilkie will integrate its existing commercial operations into the Lowell facility, adding another $5 million in revenue.
Hamish Rowan, CEO of Wilkie, stated: “Our ambitious plans for the Lowell site include significant investment in research and development, further expanding our technical coating capabilities, and driving growth over the next decade. We are excited about the opportunities this acquisition presents, particularly in the military, commercial, and technical coated fabrics markets. We foresee significant potential for added value within the group, such as Wilkie supplying woven fabrics to be coated and resold by Wilkie America.”
“We look forward to collaborating with new and existing customers as we embark on this exciting journey as Wilkie America. This acquisition aligns with Scotland’s strategic plan and promises to invigorate the Lowell-based business, paving the way for a prosperous future for Wilkie.”
Craig Martin, Partner at BDO, who led the deal, added: “Wilkie is a remarkable business with a proud heritage in Scotland and a visionary management team focused on global growth. It was a pleasure to work with such an ambitious company as it executes its growth plan. We were able to connect with our US colleagues to deliver this acquisition effectively. We look forward to seeing Wilkie’s continued growth as it strengthens its US presence.”
Hamish concluded: “BDO was crucial in finalizing this deal. The team’s confidence and cross-border expertise ensured the Seller knew we were serious. Everyone at BDO felt like an extension of our Wilkie team. BDO also made valuable introductions to Boston-based lawyers. The clear and positive guidance throughout the process enabled us to complete finance and tax due diligence promptly and achieve a successful outcome for everyone involved.”
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