Cheltenham-based Hazlewoods has advised on the acquisitions of Bristol-based Initially Yours Limited, Total Promotions Limited and John McHugh (Stretford) Limited by Banner Limited.
Wiltshire-based Banner Limited, backed by MML Capital Partners, aspires to be the market leader in the supply of uniform and sportswear to the school wear industry, and these acquisitions represent another key step in their strategy.
Ian Webb, CFO 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 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 has worked hand in hand with the team at Banner and with Phil Edmonds at Roxburgh Milkins, who has provided legal support to Banner throughout this ongoing acquisitive phase in their strategy.
Ian continued: “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, added: “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.