Royal Bank of Scotland's corporate and structured finance team has backed the £6m (€9.7m) management buy-out of Langholm dyeing, the textile dyeing and finishing units of the Leeds Group.

The Scotland-based dyeing division comprises two businesses, Langholm Dyeing and Schofield Cloth Finishers. Both businesses will be sold to Langholm Dyeing, a newly formed company. The completion of the deal sees the operation return to Scottish ownership. Ally Scott, head of the Royal Bank of Scotland's corporate and structured finance team for the east of Scotland, said: &quotOur newly combined corporate and structured finance unit is still in its infancy but already our customers are seeing the benefits of bringing together the bank's existing corporate finance team with the regional structured finance and leveraged finance operations.&quot