A Managing Director (MD) and probably a Non-Executive Chairman are required to lead a Management Buy-In team to acquire an established business designing and manufacturing of fashionable formal coats and jackets for high street stores. This London based business has a turnover of approx £10m and EBITDA of £1m, pre directors’ drawings.

The MBI team must demonstrate the ability to provide sufficient equity and debt funding to acquire the exiting shareholder’s 100% equity. The client has strong retail relationships and significant growth opportunities.

1. The Company & the Product:

• This established business is involved in the design and manufacture of formal coats and jackets for high street stores aimed at the young women’s ladies fashion market.
• The fabric is predominantly sourced in Europe with Italy constituting some 70%. It is then sent to various factories in Romania, Bulgaria or Turkey where the garments are finished and labelled with individual store names, price tags etc.
• Quality control and production issues are handled by external agents. The garments are then dispatched directly by the factories to warehouses in London which store and when required, check the garments prior to direct delivery to customers.
• The company have approximately 30 live accounts, the largest of which generates a turnover in excess of £3m.
• There are in excess of 300 suppliers, the largest of which has a value of approximately £500k.
• There are three vendors, only two of whom are involved in the business on a daily business. One is the head designer and the other handles product finance and administration. In addition, there are some 25 staff.

2. Managing Director and Chairman for Management Buy-In team:

• We are seeking an investing MD & probably a Non Exec Chairman to lead the Management Buy-In team and to take over 100% of the equity in the business.
• The acquisition team must have the ability collectively to contribute the required equity funds of iro £300k to acquire the existing shareholder’s equity on completion. We can assist with raising the debt funding.
• The ideal MD should have a proven track record of managing a comparable business.
• Knowledge of the retail, fashion and fashion distribution businesses both in the UK and overseas will enhance shareholder value over the next 3 years.
• An Information Memorandum is available but we will require a signed Self–Certification Statement or High Net Worth/Sophisticated Investor form in order to comply with the current Financial Services and Markets Act (Financial Promotion) Order 2005 (FSA) legislation, our Confidentiality/NDA form and MBI Agreement. If you have not already signed these forms we will email them to you.

N.B. This specification should not be considered as a recommendation by the Shareholders, the Company or any of their respective subsidiaries, affiliates, representatives, partners, directors, officers, employees, advisers or agents to acquire the shares in the Company, and recipients interested in buying shares in the Company are recommended to seek their own independent financial, legal and other advice.