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January 14, 2002

UK: Management Buyout Saves Jobs At Bulmer & Lumb

A five-strong team led by managing director Bill Waterhouse has leveraged a buyout of Bulmer & Lumb, the natural fibres division of Allied Textiles, in a deal believed to be in the region of £5 million. The acquisition of the Bradford-based company, which has an annual turnover of £25m, was primarily funded through debt finance and should secure the jobs of about 350 workers.

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