Clitheroe-based school uniform specialist Trutex has announced that the senior management team have recently concluded a management buy-out of the business.
Trutex was previously bought by Leeds-based private equity investor Endless LLP in 2010.
Since the investment Trutex has enjoyed a period of significant growth and development. During the last five years, Trutex has restructured its operations and invested in several new areas including an increasingly successful performance sportswear brand, AKOA.
Managing director Matthew Easter commented: “Trutex has come a long way since Endless invested in the company in 2010, and they have supported us throughout its transition to the business that it has evolved into today.
“However, as a management team we are keen to continue driving the business forward into its next phase, and were able to conclude the acquisition from Endless, leaving us in a stronger financial position to further the future strategy.”