Historic Kirriemuir textiles firm Wilkie, a prominent player in the industrial textiles sector, has finalized a deal to acquire a factory located in Lowell, Massachusetts, from Bradford Industries. This acquisition, conducted for an undisclosed amount, will result in the addition of 25 new employees to Wilkie's workforce and is expected to contribute around £6.25 million in revenue.
Established in Angus since 1868, Wilkie specializes in developing industrial textiles and materials tailored to address specific customer needs on a global scale. The company's recent move to acquire the American factory aligns with its strategic objective of expanding its footprint in the United States, a pivotal market for growth and innovation.
Led by Chief Executive Hamish Rowan, the sixth-generation head of the family business, Wilkie views this acquisition as a reinforcement of its commitment to growth, innovation, and the production of high-quality products made in the USA. The company aims to leverage this strategic move to enhance its manufacturing capabilities and advance its position in the technical textiles industry, focusing on key markets such as airbag coating, polymer films, military applications, and more.
Furthermore, Wilkie's plans include substantial investments in research and development at the newly acquired American facility, with the integration of its existing sales activities expected to generate an additional £4 million in revenue. Avidia Bank in Massachusetts played a crucial role in providing financial support for the asset purchase, leading to the rebranding of the factory as Wilkie America.
