Azets completes sale of Turtle Doves by Refined Brands

Azets has advised on the sale of Turtle Doves Limited by Refined Brands, an acquisitive group specialising in sustainable British brands, for an undisclosed amount. 

The shareholders of Turtle Doves were advised by the firm’s corporate finance team, Mark Selby and Craig Nash, its tax team, Ray Abercromby and Sarah Connolly, and Azets’ local accounting team in Shrewsbury. 

In addition, Pearse Sheehan from Harrison Clark Rickerbys acted as legal adviser to the vendors. George Green LLP advised Refined Brands, while Grant Thornton provided the group with financial due diligence. 

Turtle Doves is a Shrewsbury-based brand, focusing on the design, manufacture and online retail of gloves, mittens, scarves and other clothing accessories made from recycled cashmere. 

Graham Holbrook, managing director of Turtle Doves, said: “Refined Brands is the ideal home for Turtle Doves due to the shared values of ethical sourcing and sustainability. Under their ownership, I believe that the Turtle Doves business will go from strength to strength. 

“It’s been great to work in partnership with Azets to push the deal over the line at such a turbulent time for the economy.”

Ben Barnett, non-executive chairman of Refined Brands, added: “The creation of Refined Brands was motivated by a desire to build a differentiated family of sustainable fashion brands, alongside founders and teams that shared our passion and vision. 

“Turtle Doves are pioneers in fully recycled garments and accessories, and I am delighted to welcome Graham Holbrook and his team to the group.”