Dains Tie up a String Deal for Trunature

Dains Tie up a String Deal for Trunature

Dains has acted as lead advisors on a deal which sees the UK meat netting manufacturer Trunature Holdings Ltd acquire Glasgow based twine and string manufacturer Henry Winning & Co. Limited, based in Parkhead. Henry Winning was originally established over 130 years ago and the sale sees the exit of the current shareholders John & Elizabeth Hamilton, John being the great grandson of the founder. It is the only remaining UK provider of a full range of natural and synthetic twines and holds British Retail Consortium, Grade A accreditation, vital to the company’s many customers in the food sector.

Trunature Holdings, based in Leicestershire, is run by 46 year old Stuart Revill, originally from East Kilbride. It has expanded in recent years following a buy-out led by Mr Revill and has an annual turnover in excess of £10 million pounds. It is the leading manufacturer in the UK of meat netting products using its patented meat netting machinery developed by Mr Revill. The company has also seen rapid growth worldwide with the sales of patented superior netting also developed by Revill.

Revill says: “Winnings fits perfectly into The TruNature Group, complementing our global BRC accredited manufacturing facilities, from which we are now supplying to over 50 countries worldwide. I have been in discussions with John Hamilton for some years, we have established a good rapport which helped with our negotiations to acquire this iconic business."

John Hamilton, retiring Managing Director, commented: “Trunature and Stuart Revill, was an obvious choice to acquire Henry Winning & Co Ltd. Stuart has extensive knowledge of textiles, and the markets our product sell in. I am delighted that Trunature will continue with our operation here in Parkhead, and the security offered to our loyal staff and customer base.”

Dains provided lead advisory, financial due diligence and tax advice to Trunature Ltd. Revill continues: “The team at Dains have been working with Trunature on this strategic acquisition on and off for 6 years – their tenacity and skill in negotiating the transaction has been first class. It is our third transaction working together and I look forward to working with them again in the future.”

Funding was provided by HSBC and legal advice by Sheppherd and Wedderburn in Glasgow.