Hazlewoods and Roxburgh Milkins advise Banner Group on latest acquisition
Hazlewoods Corporate Finance and Roxburgh Milkins have recently advised Banner Ltd, a UK supplier of school uniforms, on its acquisition of William Turner Ltd, a UK supplier of school ties, bags, and accessories.
Banner Ltd, backed by CBPE, is the market leader in the supply of both uniform and sportswear to the school wear industry, employing over 350 people in Trowbridge and the North West.
Acquiring William Turner Ltd, a third-generation family business established since 1969, represents another key milestone in Banner’s strategy, complementing a brand portfolio that also includes the Monkhouse retail chain.
Commenting on the acquisition, Banner CEO Glenn Leech, said: “We’ve long admired William Turner; it’s a well-run operation with values that we share and a reputation for excellent service.
“In joining forces, we bring together two businesses with complementary product ranges. It also supports our ambition, over time, of providing a head-to-toe uniform in sustainable eco fabrics’.
James Whittaker, Corporate Finance Director at Hazlewoods, and Philip Edmonds, Senior Associate at Roxburgh Milkins, have worked with the Trowbridge company for several years, watching them go from strength to strength, with this latest acquisition being one of Banner’s largest and most significant deals to date.
James advised on the deal structure, oversaw the provision of financial and taxation due diligence and managed the deal to completion. “I have worked with Banner on a number of acquisitions and we have a process which is as Seller friendly as it is Buyer and is a pleasure to run.
“William Turner is a fantastic business, built over years and is a testament to the Turner family. I wish all parties continued success together.”
Philip provided legal advice to Banner, working closely with James and Banner’s senior management team. Including detailed due diligence reporting and highly bespoke transaction documents, this was all delivered to a tight timetable.
“Having supported Banner over a number of years now, we are very pleased to see their continued growth and development in acquiring a really complementary business that will fit very well with Banner’s existing offering.
“Working alongside Hazlewoods on each occasion, we have formed a highly effective advisory team who know the Banner business (and their needs) well. We look forward to supporting them together in the future.”
Glenn Leech followed, “James and Phil’s approach to deals perfectly reflects ours. We consider them key members of our team, as they continue to impress us with their expertise and delivery.”