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Brabners advises on £5m investment into workwear brand

Brabners advises on £5m investment into workwear brand

Wednesday 23rd August 2017

Private equity firm Rockpool has invested £5m into workwear manufacturer Wearwell UK in a deal advised on by Brabners Corporate Finance.

The buy-in-management-buy-out (BIMBO) sees Richard Wright, former vice president of international workwear supplier Kwintet, join the Staffordshire-based business as its new chief executive.

London-based Rockpool operate across a range of sectors including fashion, technology and utilities.

Wright said: “Having been in the workwear industry for many years, I am thrilled to be part of taking the Wearwell brand into its next stage of development. The team and I are excited about our plans for the brand’s future and we are looking forward to realising these with Rockpool’s support.”

Wright was advised by North West-based Brabners’ Corporate Finance, a specialist financial adviser that is part of commercial law firm Brabners.

Lead adviser and principal of Brabners Corporate Finance, Paula McGrath, said: “This is a landmark moment for Wearwell UK and provides strong foundations for the future development of the business. The business is projected to grow substantially over the next few years and the support and investment from Rockpool is a vote of confidence in the company’s standing and potential.

“The deal enables Wearwell to build on its proven track record and take advantage of the growth opportunities within the UK workwear sector, which is one of the largest industries of its kind in Europe. We have a longstanding relationship with the business and it’s exciting to see it reach this important milestone in its growth journey.”

The UK workwear market is the second-largest in Europe and generates turnover of approximately £850m a year.

Brabners’ partner Rupert Gill also advised on legal matters throughout the deal.

Wearwell UK produces technical workwear for industrial use, supplying to several blue-chip companies.