Stuart Canvas Acquires Mudfords
Stuart Canvas, the UK’s leading provider of sports ground and industrial covers, has acquired Mudfords as the company continues to increase its production capacity and extend its range of services into new and diverse marketplaces. The announcement is in line with Stuart Canvas’ strategy to grow the business though organic expansion and targeted acquisitions.
Mudfords Ltd, headquartered in Sheffield but with a warehouse and outlet in Wakefield, was established in 1832 and has grown to be one of the UK’s leading suppliers of load restraint equipment, Rope, Tarpaulins, Nets, Jute sheets and many other products. The company, which boasts clients which include many household names also offers bespoke industrial tarpaulins which compliments Stuart Canvas’ existing offer and extends the business into new areas.
The acquisition will offer Stuart Canvas double production capacity as the company looks to keep up with demand for its covers and tarpaulins. In addition, the two businesses have complimentary customer bases and provide an opportunity for the two businesses to cross sell products to each other's customers as well as the expansion of the online presence and shop.
Ed Stoddart, Chief Executive of Start Canvas, comments: “Mudfords is a great fit for our business as it consolidates our market position as a leading provider of industrial and haulage covers and allows us to expand our production capabilities as well as our product range. The acquisition is a key part of our strategy which will see us look to ambitiously grow our business through organic expansion and acquisition.”
The agreement will see Stuart Canvas purchase Mudfords Ltd for an undisclosed sum and the management of both businesses work together on building a strong and sustainable business that operates in both a national and international markets.
Rory McGrath, Chief Executive at Mudfords, adds: “I am delighted that the Stuart Canvas Group has taken over the mantle of Mudfords of which I am so proud that it has been in the Mudford family for over 150 years. We are now able to provide our customers with an improved service and capabilities which in turn will allow us to achieve greater market share. I’m excited by this opportunity and the future for Mudfords.”
Stuart Canvas is the UK’s leading manufacturer of sports ground covers (including tennis, cricket and frost covers), canvas covers and haulage covers. Established in 1971, the company has over 45 years of experience in manufacturing PVC and cotton covers for both the sports and industry. The company also produces covers tailored to suit individual requirements of size and weight, for military, commercial and leisure use. For more information on their products, visit their website: https://stuartcanvas.co.uk or call 01925 814 525.