Leading law firm Howes Percival has advised on the successful management buyout of a Leicestershire based group of companies, which includes fashion supplier BHM Knitwear.
The acquisition led by the group’s Managing Director, Ben Littlejohn and Sales Director, Nick Barana was supported by industry investors. Gerald Couldrake, a Senior Partner at Howes Percival advised Ben Littlejohn on the legal terms of his investment.
BHM operates from a state-of-the-art design and sampling facility in Fleckney, South Leicestershire. The Group has supplied knitwear garments to UK and European brands for over 40 years. It has manufacturing sites in the UK, Romania, Turkey, China, Bangladesh and Myanmar.
Gerald Couldrake commented, “We are delighted to have acted for and supported Ben Littlejohn in what looks to be an exciting opportunity to continue to grow the business over the coming years. With Covid restrictions, 2020 has been a tough year for many businesses. But despite the negative impact of the pandemic, BHM’s management team has managed to successfully grow the business, and gain support from external investors to complete the deal.
“We currently have a strong pipeline of corporate transactions and we expect that to continue into 2021. In particular, there has been a surge in management buyouts – partly due to business owners re-assessing their financial objectives, risks and priorities, as a result of the pandemic.”
BHM’s Managing Director, Ben Littlejohn commented: “This deal provides a fantastic opportunity for myself, Nick, the investors and the rest of the team at BHM.
“With a perfect mix of enthusiasm, passion and a wealth of experience, the future of BHM looks incredibly exciting and I’d like to thank all of those involved in helping complete this deal.”
Management consultants, Team Emperia, law firms Flint Bishop and Shakespeare Martineau, and chartered accounts, Bates Weston also advised on the deal.