Corporate Finance

Hazlewoods advises Banner Limited on acquisitions

Hazlewoods performed the full acquisition advisory, from negotiating the deal structure, providing financial and taxation due diligence and managing the deals to completion

Hazlewoods corporate finance team has advised on the acquisitions of Initially Yours Limited, Total Promotions Limited and John McHugh Limited by Banner Limited.

Banner Limited, which is backed by MML Capital Partners, supplies both uniform and sportswear to the school wear industry, with the new acquisitions representing another key step in its strategy.

Hazlewoods performed the 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, the firm 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 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.”

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.”

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