Long-standing Leicester knitwear supplier BHM Knitwear has been acquired in an MBO by managing director Ben Littlejohn and sales director Nick Barana with the support of a number of investors.
BMH has manufacturing sites in the UK, Romania, Turkey, China, Bangladesh and Myanmar and has been supplying UK and European brands for over 40 years. It operates from a state of the art design and sampling facility in Fleckney, South Leicestershire.
Despite the COVID-19 restrictions the management team has been able to grow the business and gain support from external investors who are looking at the long-term opportunity for BHM.
The investors were advised by Team Emperia, who will continue to advise the company going forward and said they had been impressed by the dynamism of the management team and the potential for the business to become an industry disruptor.
“This deal provides a fantastic opportunity for myself, Nick, the investors and the rest of the team at BHM. With a perfect mix of enthusiasm, passion and a wealth of experience, the future of BHM looks incredibly exciting and I’d like to thank all of those involved in helping complete this deal,” said managing director Littlejohn.
Rachel Bennett, a corporate finance partner at Flint Bishop, was the lead adviser to the new owners, with Bates Weston providing financial and tax due diligence. The identity of the former owners was not revealed.
Bennett commented: “This is such an exciting opportunity for BHM’s home-grown talent, Ben and Nick, supported by international industry experts, to take the BHM group to the next level. It is heartening to see strong businesses continuing to transact during the current Covid-19 crisis, setting themselves up to come out of it even stronger.”
Roy Botterill and Ashley Taylor at Shakespeare Martineau and Gerald Couldrake at Howes Percival also advised on the deal.