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Glaisyers advises on DAMS International buyout

Manchester-based law firm, Glaisyers Solicitors LLP, has advised DAMS Furniture Limited, a Newco set-up to acquire a substantial part of the business and assets of DAMS International Limited, for an undisclosed sum.

Based in Knowsley, DAMS International is a major manufacturer and global supplier of office and contract furniture. Established in 1967, it has a long tradition in Merseyside and the North West. It employed an average of 481 staff in 2008 and had a fleet of around 150 vehicles. It posted a turnover of £42 million in 2008 and was placed into administration on 30th September.

The company and its assets have been bought by DAMS Furniture Ltd, which was formed by two of the previous directors of DAMS International Ltd, Chris Scott and Melissa Moore. Part of the deal included the firm’s factory at Knowsley Industrial Park.

Over 70 jobs have been saved by the acquisition. The company will continue to trade as DAMS, following the acquisition.

Speaking on the deal, Julian Bond, corporate partner, said: “We completed the deal within one day of the client’s offer being accepted by the administrators. We are pleased that DAMS will now continue to trade and that so many jobs were saved.”