An historic Dundee furnishing fabrics wholesaler is under new owership after a management buy-out.
Wester Gourdie Industrial Estate-based Wemyss Weavecraft and Sekers Fabrics are now part of Worell Limited, a new company set up jointly by Ian Worf and Ian Tatnell with funding from RBS and the previous owners.
Mr Worf and Mr Tatnell had previously led the sister operations as respective managing directors.
Malcolm Moir, majority shareholder of Gourdie Limited which was the previous parent company of Sekers and Wemyss, will continue to be involved with the business as Worell’s new non-executive chairman.
Sekers is currently in its 80th year and specialises in the design and supply of furnishing fabrics and wallcoverings to the international hospitality market.
It has an established network in America, Europe, the Middle East and Asia, with export sales already representing 30% of turnover and growing.
Fife-founded Wemyss is also a heritage business, having reached 70 years of trading last year.
It concentrates on the UK residential market and also designs and supplies furnishing fabrics and wallpapers to the interior design, soft furnishings retail, upholstery and furntiture sectors.
Under the terms of the management buy-out, all 48 staff at the group’s Dundee headquarters and at its shared Chelsea Harbour showroom are being retained.
In a statement, Mr Worf and Mr Tatnell said they were pleased to complete the buy-out but stressed it was business as usual for the two brands.
“We are both delighted to have been given the opportunity to become owners of two great businesses that we have been involved with collectively for over 50 years,” they new owners said.
“We are fortunate to have a brilliant team of people behind us who also share our passion and enthusiasm and this will help us to continue to grow both businesses in the years to come.’’