Seneca invests seven figures in fabrics firm
Lancashire-based investment firm Seneca has taken a seven-figure minority stake in Whyte & Ivory Limited, the maiden transaction of its new private equity division.
Nelson-based Whyte & Ivory is a global wholesaler of curtain linings and blackout fabrics used in both domestic and commercial markets. The new investment will allow the company to realise its ambitious growth plans in Europe and the USA.
Founded in 2008 and led by husband and wife team Peter Hamilton and Anne Collins, Whyte & Ivory is an important link in a supply chain that typically starts in Asia, adding value through importing, stockholding, innovation, quality and local market service.
Operating from headquarters in Nelson and a subsidiary in North Carolina, Whyte & Ivory supplies a broad range of customers from major retail through to branded distribution partners. Whyte & Ivory was awarded a 2019 Queen’s Award for Enterprise in the International Trade category, following three years of continuous outstanding export growth.
The transaction was led by Andrew Stubbs and Paul Leyland at Seneca.
Andrew said: “Peter and Anne’s commitment and passion for the business is exactly the dynamic we look for in the management teams we partner with. We’re looking forward to joining them in the next stage of the journey."
Peter and Anne’s commitment and passion for the business is exactly the dynamic we look for.
Peter Hamilton, managing director of Whyte & Ivory, added: “Seneca’s industry knowledge and understanding of the dynamics of a family run business makes us sure we’ve found the right partner. They bought into our vision and ambition for the business, right from our first meeting."