LDC Backs Independent Corporate Clothing Group In GBP50 Million Deal

IMAGE SOURCE:
infectious.com.au
LLDC BACKS INDEPENDENT
CORPORATE
CLOTHING
Group In GBP50 Million Deal
ARTICLE SOURCE:
https://www.privateequitywire.co.u
k/2019/08/20/278101/ldc-backsindependent-corporate-clothinggroup-gbp50-million-deal

MID-MARKET PRIVATE EQUITY INVESTOR LDC
HAS BACKED THE MANAGEMENT BUYOUT OF
THE CORPORATE APPAREL BUSINESS OF US-
BASED TAILORED BRANDS, IN A DEAL WHICH
VALUES THE GROUP AT GBP50MILLION.
The group is the UK’s largest supplier of corporate clothing
uniforms to businesses and individuals. It trades
internationally through its Dimensions, Alexandra, Yaffy and
Twin Hill brands. Midlands-based Dimensions is the UK
market leader in supplying corporate clothing solutions
through multi-year managed service contracts. Dimensions
has an impressive portfolio of over 100 major client accounts
and delivers uniforms to millions of wearers across multiple
industry sectors both in the UK and internationally. The
group also includes West Country-based Alexandra, which
offers a comprehensive range of catalogue garments and
accessories from stock, to public and private sector
businesses, across a wide range of sectors including
healthcare and facilities management both in the UK and
internationally. Yaffy, based in Glasgow, is a leading supplier
of high performance outerwear and technical clothing to UK
police forces. Yaffy is also a key supplier of uniform
equipment carriers to various Forces. The group also
provides corporate workwear in the US through its brand
Twin Hill. Twin Hill services large-scale uniform programs for
major managed clients.

Collectively the group employs more than 800 people across
its offices in Castle Donington, Thornbury, Glasgow and
Houston, and for the current financial year it is on target to
record combined revenues of more than GBP150million. LDC
is backing the current management team, Executive
Chairman Stuart Graham, Group Chief Financial Officer
Morgan Atherton, Dimensions Managing Director Hayley
Brooks, and Alexandra Managing Director Martin Lyne, as
they embark on the next stage of the firm’s growth
strategy.The corporate clothing group now plans to invest in
its current service lines and infrastructure to accelerate
organic growth at home and overseas, in addition to
exploring complementary acquisitions to drive further
international expansion. The investment was led by LDC’s
John Green, John Garner, Alistair Pendleton and Richard
Ibbett. John Green, Investment Director at LDC in
Nottingham, says: “Every day more than four million people
go to work in a uniform that has been produced by the group
and that is a direct result of the ambition, hard work and
dedication of the management team. “Together they have
built a business that is rooted in quality and a commitment to
client service, and given the group’s scale and geographic
footprint there is a huge opportunity to take the group to the
next level.

Our investment and support will now enable the team to
inject capital into key growth areas and drive further
expansion. We’re looking forward to helping them on the
next phase of their journey.” Stuart Graham, Executive
Chairman of the Group, adds: “We have been part of Tailored
Brands for almost a decade and during that time we have
built our business into a truly global player. With LDC as our
growth partner, we can focus on investing in our proposition,
take our market-leading products and service to more
customers at home and overseas, and ensure our business
has solid foundations for future growth.” This investment
marks LDC’s seventh corporate carve-out the firm has backed
in 18 months, following its partnerships with Shield Group
International, Precision Micro, Martin Audio, Retail Asset
Solutions Group, NBS and BWML. The deals have a combined
enterprise value of more than GBP200million. LDC and the
management team were advised by Clearwater International,
Browne Jacobson and Eversheds Sutherland.