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Widdop Bingham & Co Ltd, a family owned wholesale gift supplier is preparing for its next phase with fifth generation members of the Illingworth family – Stephen and Daniel – taking ownership of the business as joint MDs in a deal being supported by Shawbrook.
Founded in 1883 by William Widdop and recently celebrating their 140th year, Widdop Bingham & Co has become an award winning wholesale gift supplier which includes a product range of over 8,000 stock keeping units spread across 12 distinct product categories, and 26 brands. Key products include clocks, candles, figurines, cards, puzzles, photo frames and albums.
The Group, based in a purpose-built factory in Chadderton Manchester, also has the rights to use licenses including Disney, Warner Brothers, Hasbro and Paramount. The Group currently operates a UK and Asian design team with over 80 years of cumulative sourcing experience. This allows the team to innovate quickly and exclusively from a supply base of over 200 factories.
After 35 years under the current ownership of the fourth generation of the Widdop family, the fifth generation – Stephen and Daniel Illingworth – will be taking over ownership as joint MDs. They’ve both been part of the business for 15 years and are already looking to advance the business by expanding services, developing an in-house print on demand service.
The multi-million-pound Asset Based Lending facility offered by Shawbrook will support the well-established business as it transitions to its next phase under the new leadership.
Shawbrook and Widdop have a long-standing relationship giving Shawbrook a deep understanding that enabled them to structure a bespoke facility tailored to the business to support with the successful ownership transfer.
- Daniel and Stephen Illingworth, MDs at Widdop Bingham & Co Ltd
Daniel and Stephen Illingworth, MDs at Widdop Bingham & Co Ltd, said:
“We’re excited to begin the next phase of Widdop following the transfer of ownership from our parents to us. We’ve gained significant experience working in the family business for 15 years and are looking forward to continuing, and growing the family legacy further.
“Shawbrook has been key to this transfer, and we’re grateful that they had an intimate understanding of the business and the funding required. We feel that they’ve truly understood us and have been flexible in order to accommodate us. Their support and speed have also made the process so much smoother.”
Matt Greenhalgh, Director at Shawbrook, said:
“It’s been fantastic working with Daniel and Stephen to help them through this transfer from one generation to the other. They’re well versed in their business and we expect that they’ll continue to grow the brand for years to come. We’re pleased we were able to offer a bespoke structure that enables the smooth transfer of ownership and creates a fantastic foundation in which to continue to grow this long-running business.”
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