RSM has advised on the disposal of Sirdar, a UK market leader in hand knitting yarns, to London based mid-market private equity manager, BlueGem Capital Partners LLP.
Based in Alverthorpe, Wakefield, Sirdar will sit alongside complementary needlecraft brands, DMC (Dollfus-Mieg et Compagnie) and Wool And the Gang, previously acquired by BlueGem in August 2016. Together the three companies will form a new DMC Group, formally known as Crafts Group Holding.
The RSM team, led by corporate finance partner Steve Hubbard with support from Amy Lewis and Umito Choji, acted for the shareholders of Sirdar on the transaction. Squire Patton Boggs’ corporate partner Paul Mann with assistance from Louisa Hine and Harry Hobson, acted as legal advisors to the shareholders.
Founded in 1880, Sirdar is a West-Yorkshire based supplier of high quality yarn and textile products, which distributes throughout the UK and internationally, particularly in North America.
Steve Hubbard, corporate finance partner at RSM, said:
‘As a long standing client, who we advised on their original management buyout, I am delighted that we have been able to support the shareholders on their sale to BlueGem. It brings together three complementary businesses, delivering real synergies in product offering, distribution channels and routes to market in the UK and globally. This will allow Sirdar to maximise opportunities in the thriving yarn market – shaping its next stage of growth.’