Thursday 5th June 2008
C.T Holdings, a Manchester based nursery products supplier and performance fabrics business, has completed a deal worth £2 million with Bank of Scotland Corporate to provide financing for the Group.
Established in 1967 by David Chadwick, 100% shareholder and Chairman of the business, CT Holdings began life as a supplier of textiles to the garment industry but moved into the nursery sector around six years ago. The Group was restructured in 2006 with the creation of the holding company, CT Holdings, and two separate trading companies, Chadtex and Chadwick Textiles.
Chadtex, under its Izziwotnot brand, designs manufactures and supplies nursery products including furniture, bedding and accessories to a range of major High Street retailers such as Boots, Bhs and Toys R Us. The business also manufactures and supplies own-label nursery products under licence (Winnie the Pooh and Humphreys Corner) to Mothercare and John Lewis.
Chadwick Textiles, once a traditional textiles business, now focuses on the performance textile sector for sports, activewear and leisurewear, supplying niche brands within the garment manufacturing industry both UK and in Europe. More recently, the company has also started sourcing and supplying bespoke technical garments to its customers.
The financing deal with Bank of Scotland will enable C.T Holdings to continue building their own Izziwotnot brand and establish the business as a major player within the highly competitive nursery sector.
The transaction was structured and arranged for Bank of Scotland Corporate by Jonathan Beckwith in the bank's Manchester office.
Commenting on the deal, David Chadwick, owner and Chairman of CT Holdings, said:
"With Bank of Scotland's support we are confident in achieving our short and long term strategy for both our nursery and textiles businesses."
Jonathan Beckwith, Director for the North West in Bank of Scotland Corporate's Manchester office, said:
"We are delighted to be partnering with a highly ambitious entrepreneur in driving forward CT Holdings' growth strategy. The business has an excellent track record and is well positioned to drive turnover and profit over the coming years."
Notes for Editors:
Bank of Scotland Corporate,part of HBOS plc, has a reputation for excellence in the provision of corporate finance, delivering innovative funding solutions across a range of markets. With experience across many areas of corporate finance, including specialist teams covering Real Estate, Joint Ventures, Integrated Finance, Structured Property Finance, Infrastructure Finance and Housing Finance, Bank of Scotland can draw on an expert pool of professionals with proven track records. Bank of Scotland provides funding to more Management Buy-Outs than any other bank in both the UK and Europe. Total lending at December 2007 stood at £109.3 billion.
