Directors lead investor-backed MBO at fashion supplier
A Leicestershire fashion supplier has undergone a management buy-out, led by its managing director and sales director.
Ben Littlejohn and Nick Barana have taken control of the BHM Group of companies, which includes BHM Knitwear, with the help of external backers.
BHM, which operates from a design and sampling facility in Fleckney, south Leicestershire, has supplied fashion knitwear to UK and European brands for over 40 years.
With manufacturing sites in UK, Romania, Turkey, China, Bangladesh and Myanmar, BHM develops new categories of supply in knitwear, jersey, leisurewear and outerwear.
Littlejohn said:: “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.”
Rachel Bennett, a corporate finance partner at Flint Bishop, was the lead advisor to the new owners, with Bates Weston providing financial and tax due diligence. Team Emperia advised the unnamed investors.
Bennett said: “This is such an exciting opportunity for BHM’s home-grown talent, Ben and Nick, supported by international industry experts, to take the BHM group to the next level. It is heartening to see strong businesses continuing to transact during the current Covid-19 crisis, setting themselves up to come out of it even stronger.”
Roy Botterill and Ashley Taylor at Shakespeare Martineau and Gerald Couldrake at Howes Percival also advised on the deal.