GLOBAL textile manufacturer Camira Group has announced record results, selling 8.2 million metres of fabric to 68 countries worldwide and posting double digit growth in both turnover and profit.
The Mirfield-based firm, which designs and manufactures environmentally sustainable fabrics for customers such as the Leeds First Direct Arena and MediaCityUK, the home of the BBC in the North of England, reported a 12 per cent increase in turnover to £68m in 2014.
The news come hot on the heels of the firm winning a Queen’s Award for sustainable development. The judges said Camira’s textiles are manufactured with high levels of environmental transparency, both in the group and across its supply chain.
The firm, which has over 370 employees, obtains its cotton directly from mills in Pakistan to ensure proper social practices of suppliers.
Camira said that once again it sold more overseas than in the UK market, with exports now accounting for over 60 per cent of sales.
Sales rose to all 15 of its top export countries with Germany the largest export market for the firm.
The German operation, which operates from Camira’s European headquarters near Stuttgart, reported a 10 per cent rise in sales to £8.5m.
Sales in North America reached £6.1m following the relocation of the company’s US headquarters and distribution centre from Indianapolis to Grand Rapids, Michigan, and the opening of its first American showroom in Chicago.
Camira said its Asia Pacific business continued to expand from the company’s Shanghai hub, with sales increases reported in China, New Zealand and Australia.
Group underlying earnings rose 14 per cent to £7.4m.
In addition to its headquarters in Mirfield, Camira has a 400,000 square feet manufacturing base in Huddersfield.
The group is a privately owned UK textile group formed originally in 1974 as Camborne Fabrics in Huddersfield.
Camira came into being in 2006 following a management buy-out from former American parent company, modular flooring specialist Interface.
Its recent installations include Swiss Rail, Transport for London (London Underground and New Bus for London) and the University of Huddersfield.
Its textiles have been used in offices for HSBC, Google, Apple, Adobe, Microsoft and Facebook.
In addition to the results, Camira announced it has a new financial investor.
It has replaced Cavendish Square Partners, after nine years, with Pricoa Capital Group in a move that Camira said would prepare the business for further international expansion. The group is keen to expand into designing and manufacturing environmental fabrics for commercial interiors and mass passenger transport.
The senior management team will retain a majority stake in the company.
Camira’s chairman and CEO Steve Bullas, who will continue in the role, said: “Pricoa Capital is a respected, global, blue-chip organisation and we’re delighted to be working with them as our long-term investment partner to support our ambitious growth prospects and capital expenditure in UK manufacturing.”
Allen Weaver, senior managing director of Pricoa, who is taking up a non-executive directorship at Camira, added: “We’re thrilled to be working with this award winning UK textile manufacturer which has established sustained growth in turnover and profitability, as well as sector leadership in environmental innovation and CSR.”
Camira’s textiles are used by banks, bus, coach and rail firms.
KPMG Corporate Finance and law firm DLA Piper advised Camira on its financial reorganisation, aided by Sentio Partners, Squire Patton Boggs and Deloitte.
Matt Henderson, Deloitte’s partner in charge of transaction services in Yorkshire & the North East, said: “Camira is an excellent example of a business which has led technological and environmental innovation in one of the region’s traditional sectors and which still undertakes most of its production in the UK.”