Womble Bond Dickinson (WBD) has recently advised Oxygen Partners on its acquisition of certain business and assets of Knitting Division Limited, a Leicester-based manufacturer of high-quality weft knitted fabrics for ladies' fashion and the children's clothing sectors.
The new company, to be branded as Stanitex, provides services from design and development through to finished products, with the capacity of producing up to 70,000 metres of high-quality product per week.
"We are pleased to have supported Oxygen on this transaction and we look forward to working with Oxygen on future opportunities."
Jonathan Stainer, Managing Director, commented:
“I’m delighted Oxygen have decided to invest in Stanitex, rescuing the business and allowing us to continue to serve our valued customers with British-made fabric.”
Mark Andrews, Oxygen, commented:
“Our investment in Stanitex reflects our ongoing desire to acquire UK based SME’s with strong underlying fundamentals who find themselves in difficult situations. We are delighted to have Stanitex in the portfolio and look forward to working with Jonathan and the team.”