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LDC Backs Independent Corporate Clothing Group In GBP50 Million Deal

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IMAGE SOURCE:<br />

infectious.com.au<br />

L<strong>LDC</strong> BACKS INDEPENDENT<br />

CORPORATE<br />

CLOTHING<br />

<strong>Group</strong> <strong>In</strong> <strong>GBP50</strong> <strong>Million</strong> <strong>Deal</strong><br />

ARTICLE SOURCE:<br />

https://www.privateequitywire.co.u<br />

k/2019/08/20/278101/ldc-backsindependent-corporate-clothinggroup-gbp50-million-deal


MID-MARKET PRIVATE EQUITY INVESTOR <strong>LDC</strong><br />

HAS BACKED THE MANAGEMENT BUYOUT OF<br />

THE CORPORATE APPAREL BUSINESS OF US-<br />

BASED TAILORED BRANDS, IN A DEAL WHICH<br />

VALUES THE GROUP AT <strong>GBP50</strong>MILLION.<br />

The group is the UK’s largest supplier of corporate clothing<br />

uniforms to businesses and individuals. It trades<br />

internationally through its Dimensions, Alexandra, Yaffy and<br />

Twin Hill brands. Midlands-based Dimensions is the UK<br />

market leader in supplying corporate clothing solutions<br />

through multi-year managed service contracts. Dimensions<br />

has an impressive portfolio of over 100 major client accounts<br />

and delivers uniforms to millions of wearers across multiple<br />

industry sectors both in the UK and internationally. The<br />

group also includes West Country-based Alexandra, which<br />

offers a comprehensive range of catalogue garments and<br />

accessories from stock, to public and private sector<br />

businesses, across a wide range of sectors including<br />

healthcare and facilities management both in the UK and<br />

internationally. Yaffy, based in Glasgow, is a leading supplier<br />

of high performance outerwear and technical clothing to UK<br />

police forces. Yaffy is also a key supplier of uniform<br />

equipment carriers to various Forces. The group also<br />

provides corporate workwear in the US through its brand<br />

Twin Hill. Twin Hill services large-scale uniform programs for<br />

major managed clients.


Collectively the group employs more than 800 people across<br />

its offices in Castle Donington, Thornbury, Glasgow and<br />

Houston, and for the current financial year it is on target to<br />

record combined revenues of more than GBP150million. <strong>LDC</strong><br />

is backing the current management team, Executive<br />

Chairman Stuart Graham, <strong>Group</strong> Chief Financial Officer<br />

Morgan Atherton, Dimensions Managing Director Hayley<br />

Brooks, and Alexandra Managing Director Martin Lyne, as<br />

they embark on the next stage of the firm’s growth<br />

strategy.The corporate clothing group now plans to invest in<br />

its current service lines and infrastructure to accelerate<br />

organic growth at home and overseas, in addition to<br />

exploring complementary acquisitions to drive further<br />

international expansion. The investment was led by <strong>LDC</strong>’s<br />

John Green, John Garner, Alistair Pendleton and Richard<br />

Ibbett. John Green, <strong>In</strong>vestment Director at <strong>LDC</strong> in<br />

Nottingham, says: “Every day more than four million people<br />

go to work in a uniform that has been produced by the group<br />

and that is a direct result of the ambition, hard work and<br />

dedication of the management team. “Together they have<br />

built a business that is rooted in quality and a commitment to<br />

client service, and given the group’s scale and geographic<br />

footprint there is a huge opportunity to take the group to the<br />

next level.


Our investment and support will now enable the team to<br />

inject capital into key growth areas and drive further<br />

expansion. We’re looking forward to helping them on the<br />

next phase of their journey.” Stuart Graham, Executive<br />

Chairman of the <strong>Group</strong>, adds: “We have been part of Tailored<br />

Brands for almost a decade and during that time we have<br />

built our business into a truly global player. With <strong>LDC</strong> as our<br />

growth partner, we can focus on investing in our proposition,<br />

take our market-leading products and service to more<br />

customers at home and overseas, and ensure our business<br />

has solid foundations for future growth.” This investment<br />

marks <strong>LDC</strong>’s seventh corporate carve-out the firm has backed<br />

in 18 months, following its partnerships with Shield <strong>Group</strong><br />

<strong>In</strong>ternational, Precision Micro, Martin Audio, Retail Asset<br />

Solutions <strong>Group</strong>, NBS and BWML. The deals have a combined<br />

enterprise value of more than GBP200million. <strong>LDC</strong> and the<br />

management team were advised by Clearwater <strong>In</strong>ternational,<br />

Browne Jacobson and Eversheds Sutherland.

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