Ashfield Mill changes hands through MBO

By Tim Aldred

10 Nov 2022

ashfield-mill.jpg

Noted Burnley-based textiles firm Ashfield Mill and its two subsidiaries have been acquired through a management buyout.

The MBO was led by Simon Blackley, who has been a director at the business since 2009 and has been instrumental in the firm's growth through his work with co-owners and directors David and Megan Collinge.

The deal also includes John Spencer (Textiles) Limited and Ian Mankin Limited. These, and the parent company, will retain their respective identities and no jobs will be affected.

John Spencer was incorporated in 1971 but the business dates back 150 years. It has grown to become one of the leading weaving businesses in the UK making a wide range of fabrics in a diverse selection of yarns and raw materials.

The company, which sources raw materials from all over the world, manufactures fabrics to its customers’ own designs and specifications. All its fabrics are woven in its own mill which means all products produced by John Spencer can genuinely be labelled as “Made in Britain”.

End uses for its fabrics include interior furnishings, fashion, industrial, protective clothing, military uniforms, lamination, filtration, composites, footwear, luggage, automotive and parachutes. It has pioneered the use of organic and sustainable fabrics and offers additional research and development services.

Founded in 1983, Ian Mankin Limited is a weaver of designer furnishing fabrics, known for its distinctive colours and patterns. Its range also includes wallpapers and accessories.

Simon Blackley commented on the deal: “David and Megan have built a strong group of companies; I am excited to build on their success. I am looking forward to the prospect of further developing the business through innovation and creative change. It promises to be an exciting and immensely rewarding journey for me, our staff, our suppliers and customers alike.”

Exiting co-owner, David Collinge, said: “Being the sixth generation of our family to run the business and being part of the team and journey that has witnessed the Ashfield Mill group of companies develop into superior, widely recognised brands has been fantastic.

"The buyout represents the next chapter for some exciting developments, initiating even more growth, I have no doubt that under Simon’s leadership the businesses will continue to do amazing things.”

Jane Parry, managing partner and head of tax at PM+M, advised David and Megan Collinge on the key elements of the sale with Richard Robinson, Sharon Graves, Nicola Ciraolo and David Hill from Napthens advising on the legal aspects of the deal.

Jane Parry commented: “The business is a real Lancashire success story, and we were delighted to lead on the financial aspects of the deal. Simon has been an integral part of the firm’s success over the past 13 years and has a clear plan for growth so I’m sure it will go from strength to strength under his stewardship.”

Richard Robinson, corporate partner at Napthens, said: “John Spencer Textiles has been a staple of the British textile industry for more than 150 years. Born in Lancashire, the company’s longstanding reputation for quality, and commitment to embracing new technologies, has been key to its success."

Jim Akrill, consultant in PM+M’s corporate finance team, worked with Simon Blackley on the valuation, corporate finance and fundraising aspects of the acquisition.

Elaine Hurn, managing partner of Taylors Solicitors advised Simon Blackley and the MBO vehicle on the legal aspects of the acquisition together with corporate partner Matthew Catterall and property partner John Lomax.

Enjoyed this? Read more from Tim Aldred

Latest news

1

Northstone secures full planning permission for 50 new homes in Edenfield Edenfield housing development

Northstone secures full planning permission for 50 new homes in Edenfield

29 Apr 2025

2

Ring Stones Maintenance and Construction celebrates completion of Dovestone Gardens Dovestone Gardens launch

Ring Stones Maintenance and Construction celebrates completion of Dovestone Gardens

29 Apr 2025

3

PHX Training welcomes new business leader to drive learner success Louise Kirby

PHX Training welcomes new business leader to drive learner success

29 Apr 2025

4

Lidl to invest half a billion pounds in its expansion as it eyes sites in Lancashire Lidl

Lidl to invest half a billion pounds in its expansion as it eyes sites in Lancashire

29 Apr 2025

5

Inspired board reject takeover bid from major shareholder inspired-500x500.png

Inspired board reject takeover bid from major shareholder

29 Apr 2025

Pc Prestonmacan Gif980x120 March
Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV122 May/June Launch Event
121 Lancashire Business View Magazine Launch
Networking
21 May 2025

LBV122 May/June Launch Event

Lancaster and Morecambe College, Lancaster, LA1 2TY

08:30 - 10:30

Sub36 Networking
Networking
11 Jun 2025

Sub36 Networking

British Jewellery School, Scorton, PR3 1BA

15:00 - 17:00

Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200px 2
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

Planning for the future + navigating Inheritance Tax changes
Planning for the future + navigating Inheritance Tax changes for website.png.png
LBV Hub Seminars
01 May 2025 - 01 May 2025

Planning for the future + navigating Inheritance Tax changes

Stanley House Hotel, Mellor, Blackburn, BB2 7NP, Blackburn, BB2 7NP

08:00 - 10:30

Advantage: AI – A Workshop for Business Leaders – May 2
EV-land-2025-05B.png.png
LBV Hub Seminars
02 May 2025 - 02 May 2025

Advantage: AI – A Workshop for Business Leaders – May 2

Door4 Office, Burnley Wharf, Manchester Road, Burnley, BB11 1JG

09:00 - 11:00

A night at the races
1.png.png
LBV Hub Dinners / Balls
02 May 2025 - 02 May 2025

A night at the races

Morecambe FC, Morecambe, LA4 4TB

19:00 - 23:59

Innovating business solutions through PhD Partnerships
30478 Skills Bootcamp open day setting.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Innovating business solutions through PhD Partnerships

University of Central Lancashire, Preston , PR1 2HE

14:30 - 15:30

Celebrating 50 years of KTP
UCLanAerialCampus.jpg.jpg
LBV Hub Networking
07 May 2025 - 07 May 2025

Celebrating 50 years of KTP

University of Central Lancashire , Preston, PR1 2HE

16:00 - 18:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more Lbv121 Online Graphic
Subscribe now

Weekly news bulletin