ASSOCIATED Yarns Ltd, a company formed by the management of the Yarn Division of the Hollas Group, has acquired the Yarn Division group of companies.
The £1m deal also includes the freehold of the group's head office at Britannia House, Grimsargh, Preston.
The Yarn Division will continue to supply and process yarn and yarn-related products through Sylkay Textiles and Holrose based in Preston, Lawson Johnson in Radcliffe, Peri-Lusta in Leek and Sylkay International SARL in France.
The management team was advised by chartered accountants Downham Train Epstein (Lydia Challen) and Taylors Solicitors (Andrew Holland and Diane Murphy).
Finance was provided by the Co-operative Bank and Lloyds Bank.
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