Cleaver Fulton Rankin advises Ulster Carpets in its joint venture with Mourne TextilesAugust 29, 2019
Cleaver Fulton Rankin has played an integral role in the joint venture between two of the largest companies in Northern Ireland’s textile industry – Ulster Carpets and Mourne Textiles.
Ulster Carpets, based in Portadown, County Armagh, and Mourne Textiles, based in Rostrevor, County Down, have formed a partnership to develop a new company called ‘Mourne Weavers’, with the aim of expanding and developing their export trade and to explore global opportunities. The joint venture will provide an opportunity for both companies to share knowledge and combine key strengths.
Cleaver Fulton Rankin’s team led by Director, Hilary Griffith, commented on the joint venture, “We are delighted to have been involved in the collaboration of two major textile companies on behalf of our client, Ulster Carpets. The new investment is testament to Ulster Carpet’s strategic and ambitious approach to future development and growth. This is not only an important partnership for our client, but also for Northern Ireland’s textile industry and investment in export markets.”
“Our involvement in this significant joint venture, illustrates the quality and expertise of our Corporate Commercial team at Cleaver Fulton Rankin. We have recently been involved in many noteworthy collaborations, and have significant expertise in providing practical legal solutions to facilitate successful partnerships.”
Nick Coburn, Group Managing Director at Ulster Carpets, continued, “This investment in Mourne Weavers is indicative of the forward-thinking ethos of both companies and is in line with the core values of quality and design at Ulster Carpets.”
“Despite the many challenges within the global market, we continue to show confidence in the marketplace and we are excited about the new opportunities that this new joint venture will bring.”
“It also underpins our ongoing growth and diversification strategy to invest in the development of similar businesses and allows us to widen our portfolio into this exciting niche sector in Ireland.”