Crowson Acquires Majority of Vetell
September 21, 2000
Crowson Fabrics, based in Sussex, England, U.K. with subsidiary companies in Belgium, Holland, France, Germany, Australia and New Zealand, has acquired a majority shareholding in Vetell, the holding company of Hill & Knowles and the Galliard and Dovedale brands. No sum for the purchase has been disclosed.
According to Matthew Crew, Managing Director of Crowson, the company has been searching for almost two years for a suitable outlet to acquire in order to initiate a programme of expansion. He commented, 'Crowson Fabrics cannot be all things to all people. We serve mainly the middle market and therefore need to add to our portfolio companies which serve other areas of the market.'
Hill & Knowles is a leading decorator brand based in Weybridge, Surrey, U.K., with showrooms in London's fashionable Chelsea Harbour. They supply the upper middle sectors of both the home and export markets.
Crowson's overseas outlets are managed by local staff but with close day to day control by U.K. management. The Australian subsidiary set up just three years ago has showrooms in five major cities. The managing director, based in Sydney, is also responsible for the most recent Crowson operation in New Zealand where business is conducted by a sales manager through a system of agents. Each operation has its own dedicated sales force. So will it be with Hill & Knowles. The current management team will be retained and with the input of skills and investment from Crowson a bright future is predicted for the company.
Neil Mooney, managing director of Hill & Knowles said, ''This is a very exciting chapter in the company's history. Although we will retain our independence with regard to creative development and product direction we can now look forward to a very positive future.
''Extra resources from Crowson's investment will enable us, for example, to revive the dormant Galliard line and direct funds into more advertising and to extend our export activities.''
Matthew Crew explained, ''At Hill & Knowles, Crowson intends to accelerate product introduction and re-establish the brand to its pre-eminent position within the decorator sector.
''The Dovedale brand has not been very active for about the past three years. It serves the middle market, covering mainly the furniture business. It too will receive a boost from direct investment from Crowson.''
In an industry which managing director Matthew Crew calls fragmented, Crowson is looking to consolidate its business. This will be achieved in part by the acquisition of companies serving areas of the market other than those served by Crowson Fabrics. ''We are interested in approaches from other allied companies within our industry who might be interested in acquisition. They should make their interest known to us.''
According to Matthew Crew, Managing Director of Crowson, the company has been searching for almost two years for a suitable outlet to acquire in order to initiate a programme of expansion. He commented, 'Crowson Fabrics cannot be all things to all people. We serve mainly the middle market and therefore need to add to our portfolio companies which serve other areas of the market.'
Hill & Knowles is a leading decorator brand based in Weybridge, Surrey, U.K., with showrooms in London's fashionable Chelsea Harbour. They supply the upper middle sectors of both the home and export markets.
Crowson's overseas outlets are managed by local staff but with close day to day control by U.K. management. The Australian subsidiary set up just three years ago has showrooms in five major cities. The managing director, based in Sydney, is also responsible for the most recent Crowson operation in New Zealand where business is conducted by a sales manager through a system of agents. Each operation has its own dedicated sales force. So will it be with Hill & Knowles. The current management team will be retained and with the input of skills and investment from Crowson a bright future is predicted for the company.
Neil Mooney, managing director of Hill & Knowles said, ''This is a very exciting chapter in the company's history. Although we will retain our independence with regard to creative development and product direction we can now look forward to a very positive future.
''Extra resources from Crowson's investment will enable us, for example, to revive the dormant Galliard line and direct funds into more advertising and to extend our export activities.''
Matthew Crew explained, ''At Hill & Knowles, Crowson intends to accelerate product introduction and re-establish the brand to its pre-eminent position within the decorator sector.
''The Dovedale brand has not been very active for about the past three years. It serves the middle market, covering mainly the furniture business. It too will receive a boost from direct investment from Crowson.''
In an industry which managing director Matthew Crew calls fragmented, Crowson is looking to consolidate its business. This will be achieved in part by the acquisition of companies serving areas of the market other than those served by Crowson Fabrics. ''We are interested in approaches from other allied companies within our industry who might be interested in acquisition. They should make their interest known to us.''
