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The deal, which is part of Stuart Canvas' plans to increase its production capacity and extend its range of services into new and diverse marketplaces, is in line with the company's strategy to grow the business though organic expansion and targeted acquisitions.
Established in 1832, Mudfords Ltd is headquartered in Sheffield but with a warehouse and outlet in Wakefield. It has grown to be one of the UK's leading suppliers of load restraint equipment, Rope, Tarpaulins, Nets, Jute sheets and many other products. The company, which boasts clients which include many household names, also offers bespoke industrial tarpaulins which compliments Stuart Canvas' existing offer and extends the business into new areas.
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The acquisition will offer Stuart Canvas double production capacity as the company looks to keep up with demand for its covers and tarpaulins. In addition, the two businesses have complimentary customer bases and provide an opportunity for the two businesses to cross sell products to eachother's customers as well as the expansion of the online presence and shop.
Ed Stoddart, Chief Executive of Start Canvas, said: "Mudfords is a great fit for our business as it consolidates our market position as a leading provider of industrial and haulage coversand allows us to expand our production capabilities as well as our product range. The acquisition is a key part of our strategy which will see us look to ambitiously grow our business through organic expansion and acquisition."
Rory McGrath, Chief Executive at Mudfords, added: "I am delighted that the Stuart Canvas Group has taken over the mantle of Mudfords of which I am so proud that it has been in the Mudford family for over 150 years. We are now able to provide our customers with an improved service and capabilities which in turn will allow us to achieve greater market share. I'm excited by this opportunity and the future for Mudfords."
stuartcanvas.co.uk
