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

Three weekly domestic waste collection considered in plans Waste recycling Blackpool

Three weekly domestic waste collection considered in plans

01 Jul 2025

2

Graham Engineering confirms acquisition to a2e Industries Graham Engineering

Graham Engineering confirms acquisition to a2e Industries

01 Jul 2025

3

Training 2000 celebrate 'Good' rating by Ofsted Training 2000

Training 2000 celebrate 'Good' rating by Ofsted

01 Jul 2025

4

Fox Group acquires J Fisher and Sons Colin Fisher, Paul Fox CEO and Gary Fisher.

Fox Group acquires J Fisher and Sons

01 Jul 2025

5

Beever and Struthers strengthen leadership team with new partners Dean Curtis and Joe Diston

Beever and Struthers strengthen leadership team with new partners

01 Jul 2025

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
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley

08:30 - 10:30

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

Business Bike Club – July
Chamber Logo1.png.png
LBV Hub Networking
01 Jul 2025 - 01 Jul 2025

Business Bike Club – July

Various, Lancaster, LA

08:00 - 09:30

Chamber Breakfast Networking – July
Chamber Logo1.png.png
LBV Hub Networking
02 Jul 2025 - 02 Jul 2025

Chamber Breakfast Networking – July

St John's Hospice, Slyne Road, Lancaster, LA2 6ST

08:00 - 10:00

The Marketing Metrics that Matter – July 4
LBV Hub Seminars
04 Jul 2025 - 04 Jul 2025

The Marketing Metrics that Matter – July 4

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

08:30 - 11:00

Tri-Site Survey Equipment Showcase
unnamed (2).jpg.jpg
LBV Hub Seminars
09 Jul 2025 - 09 Jul 2025

Tri-Site Survey Equipment Showcase

Crow Wood Hotel, Burnley, BB12 0RT

09:30 - 16:00

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

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 LBV122 Online Graphic
Subscribe now

Weekly news bulletin