Hazlewoods supports schoolwear brand's group expansion
By Matt Hall | 13th May 2021
Staverton-based accountants Hazlewoods has advised on the acquisitions of Initially Yours Limited, Total Promotions Limited and John McHugh (Stretford) Limited by Banner Limited.
Banner Limited, backed by MML Capital Partners, is said to be the market leader in the supply of both uniform and sportswear to the school wear industry, and it said these acquisitions represent another key step its strategy.
Ian Webb, chief financial officer at Banner Limited, said: "These are all fantastic businesses which we welcome to the wider group. The COVID-19 pandemic initially brought about some uncertainty in the market, however, our confidence in our strategy quickly encouraged us to broaden Banner's coverage across the United Kingdom.
"We have developed a team of advisers over recent years who are used to how we operate and focus on what is important to us."
Hazlewoods Corporate Finance team performed full acquisition advisory, from negotiating the deal structure, providing financial and taxation due diligence and managing the deals to completion.
In each of these acquisitions, Hazlewoods worked hand in hand with the team at Banner and Phil Edmonds at Roxburgh Milkins, who provided legal support to Banner throughout this ongoing acquisitive phase in their strategy.
Mr Webb added: "James at Hazlewoods has been a trusted adviser throughout all three deals, allowing us to concentrate on the commercial aspects for which we are grateful."
James Whittaker, director at Hazlewoods, said: "These bolt-on acquisitions demonstrate Banner's commitment to their growth strategy, strengthening the group's presence in the South West, North West and East of England.
"We are delighted to be working with Glenn, Ian and Peter and we look forward to continuing to work with the executive team at Banner and with the wider team of advisers, with a number of deals already in the pipeline."
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