Law firm Shoosmiths has advised private equity firm Oakfield Capital Partners (Oakfield) on an investment in The Gainsborough Silk Weaving Co Ltd (Gainsborough)
The new investment will allow the company to capitalise on its rich heritage of fabric designs and boost its sales and marketing efforts around the world.
Shoosmiths’ partner Alastair Peet and associate Gareth Cook advised Oakfield on all corporate aspects while Tax partner Tom Wilde provided specialist EIS tax advice.
Michael Patton (pictured) of Oakfield, who has joined the board of the Gainsborough, says: ‘We believe that this unique, British business has the potential to sell its product globally. By leveraging its heritage product and manufacturing facility with financial resource and great people, we are confident that Gainsborough will grow quickly. Shoosmiths provided seamless advice to us on all corporate and tax matters for this important transaction. ’
David Sentance has been appointed as Managing Director of Gainsborough and will lead the company’s UK consolidation and expansion into the USA and Middle Eastern markets. David has spent more than 25 years in the fabrics industry building up companies supplying the furnishing industry on an international basis.
He says: ‘I am very excited to be joining Gainsborough. The combination of our highly capable workforce, the expansive archive of designs compiled over the last century, and our new investment from Oakfield will give us the opportunity to bring new collections to the market, provide excellent service to our customers, and to grow our business significantly.’
Shoosmiths' corporate team advises public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.
The national corporate team is ranked in second place by deal volume in Experian's UK Deal Review and Advisor League Table and has recently won Law Firm of the Year at the M&A Awards 2015.