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Silk Industries sells off Adamley Textiles and David Evans

Silk Industries has sold off its silk screen printing business Adamley Textiles and its David Evans business to its management team.

The £1.4 million management buyout was part funded by The Royal Bank of Scotland and the deal also includes Manchester-based silk wholesaler Biddle Sawyer Silks, which suppliers the likes of Agent Provocateur, la Perla, Matthew Williamson Couture, and Kilgour.

The combined businesses have sales of £2.7m. The deal was led by managing director Tro Manoukian.

Adamley was founded more than 40 years ago and specialises in the hand screen printing of silk fabrics. The David Evans deal includes the license for its design archive which dates back to the 1700s and holds original artwork for the likes of Christian Dior and Burberry.

Manoukian said: "Thanks to this deal the businesses are secure for the foreseeable future. We are confident in our products and with the help of our highly skilled workforce will look to grow our order book. Macclesfield has a long history of silk printing and we are very happy to continue this famous tradition."

Carol Ramsbottom, relationship manager at RBS, said: "Adamley is a good example of a traditional business that has changed with the times and is still going strong. We have been impressed with the passion that Tro and his fellow directors have for this market and are very confident of their success in this venture."

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