Trunature Holdings buys Henry Winning & Co

The firm, founded in 1880 and which has its factory in the Parkhead area of Glasgow, has been snapped up by Derbyshire based Trunature Holdings.

The transaction sees the exit of husband and wife team John and Elizabeth Hamilton.

Mr Hamilton, 59, is the great grandson of founder James Hamilton, who was helped in the setting up of the company by his brother-in-law Henry Winning.

Along with a specialist niche in making string for tying meat Henry Winning??s natural and synthetic products are used in industries including packaging, sewing, recycling, retailing and agriculture.

Trunature supplies meat netting and elastic loops in the UK as well as into more than 50 countries around the world.

It is headed by the 46-year-old Stuart Revill, originally from East Kilbride, who has spent almost two decades with the business and led a management buyout of it in 2008.

He has also developed a number of patented products and the group is now said to have an annual turnover in excess of £10 million.

Mr Revill said: ??If people are going to bind meet they use net, string or loops. We had the net and the loops so this is the perfect fit into our group of businesses.

??We are very proud to have bought and with my background I??m proud to be putting something back into Glasgow.??

Mr Revill confirmed Mr Hamilton will be retained as a consultant for a number of months while the jobs of the 32-strong workforce are also secure.

Part of that will involve taking the Winning products into the export markets where Trunature is already operating.

Mr Revill said: ??We want to grow this business and are committed to building it up.

??We see great potential for the export market to Winnings. It has been owned by the same family and we will come in with a fresh approach to where we want to go with it. My personal belief is it will be good.

??We have spoken to several of our distributors who are very keen to come over and have a look.??

According to Mr Revill it was too early to say whether further investment in the factory will need to be made.

He said: ??There is some good stuff here and the equipment has clearly been very, very well maintained and looked after.??

The value of the deal has not been disclosed but Mr Revill confirmed Trunature was funding much of the purchase price from its own reserves.

The acquisition is expected to add a seven figure sum to the turnover of the company.

Mr Hamilton said: ??Trunature and Stuart Revill, was an obvious choice to acquire Henry Winning & Co.

??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.??

Trunature was advised by the Glasgow office of law firm Shepherd & Wedderburn and accountancy firm Dains of Derby. Henry Winning was advised by Bannatyne Kirkwood France and French Duncan.