£36m retail group formed after clothing manufacturer acquisition
UNIFORM manufacturer the Business Wear Company has been acquired by a Midlands firm.
The combined turnover of the companies will be around £36m, with a group turnover of £66m by the end of the year.
Leeds-based company the Business Wear Company was acquired by industry veteran Nick Atkinson in 2011, following an administration due to financial difficulties. It now has 34 staff.
Mr Atkinson, along with Swedish clothing manufacturer Göte David bought the firm from administrators KPMG five years ago.
Since then, it has grown and in the past year increased turnover 42%. Earlier this month, the company announced that they had received £60,000 from Finance Yorkshire to aid expansion.
Mr Atkinson will return to the board of Direct Corporate Clothing to orchestrate the company’s corporate wear strategy.
At the time, turnover was reportedly reaching £1.3m. Now, the business is on target to achieve £6m in revenues this year.
Sam Sohal Joint Managing Director of DCC states: ‘This is a great acquisition enabling us to bolt on a raft of fantastic high profile corporate wear contracts such as Compass Group, Jet 2, and Noonan to name but a few .
“The Business Wear Company has experienced meteoric growth since its inception and we’re now looking forward to working with Nick, his customers and team, in building on this great success.”
Mr Atkinson said: ‘I am delighted with the DCC union as both our businesses have experienced exceptional growth borne on the back of service excellence.
“With DCC’s extensive infrastructure and experience it will allow us to leverage such strengths across the whole UK and European corporate wear markets giving medium/large end users a great opportunity of working with a group that can supply all of its corporate wear, workwear and PPE needs.’ DCC already supplies such large groups as BT, Mitie and Kwik Fit.
Business Wear was advised by the Leeds Office of Squire Patton Boggs, led by Corporate Associate Craig Pettit and Corporate Partner Paul Mann.
