Leading school uniform firm Banner has acquired a supplier of school ties, bags and accessories in a move that takes it a step further towards its ambition of providing head-to-toe uniforms in sustainable eco fabrics.
Trowbridge-based Banner, which employs more than 350 people, is the UK’s largest supplier to schoolwear retailers.
It was acquired by its management in 2015 in a deal funded by growth capital investors MML Capital Partners.
It then acquired school and sportswear specialists SWI and Orion in separate deals the following year and in 2019 bought Stockport-based F.R. Monkhouse and Solihull-based Early Years Schoolwear.
It has now taken over William Turner, a third-generation family business established in 1969 and also based in Stockport.
As well as stocking the widest range of school ties in the UK, pictured, William Turner has also expanded its product offering over the years to meet the changing needs of schools and schoolchildren, including bags, craftwear, winterwear, hair accessories, water bottles and accessories.
Banner CEO Glenn Leech, said: “We’ve long admired William Turner. It’s a well-run operation with values that we share and a reputation for excellent service.
“In joining forces, we bring together two businesses with complementary product ranges.
“It also supports our ambition, over time, of providing a head-to-toe uniform in sustainable eco fabrics.
Banner was advised by Bristol-based law firm Roxburgh Milkins and the corporate finance arm of Gloucestershire business advisers and chartered accountants Hazlewoods.
Hazlewoods corporate finance director James Whittaker and Roxburgh Milkins senior associate Philip Edmonds, who have worked with Banner for several years, described the William Turner acquisition as one of Banner’s largest and most significant to date.
James advised on the deal structure, oversaw the provision of financial and taxation due diligence and managed the deal to completion.
He said: “I have worked with Banner on a number of acquisitions and we have a process which is as seller friendly as it is buyer and is a pleasure to run.
“William Turner is a fantastic business, built over years and is a testament to the Turner family. I wish all parties continued success together.”
Philip provided legal advice, including detailed due diligence reporting and highly bespoke transaction documents, to Banner’s senior management team.
He added: “Having supported Banner over a number of years now, we are very pleased to see its continued growth and development in acquiring a really complementary business that will fit very well with Banner’s existing offering.
“Working alongside Hazlewoods on each occasion, we have formed a highly effective advisory team who know the Banner business and their needs well. We look forward to supporting them together in the future.”
Glenn Leech added: “James and Phil’s approach to deals perfectly reflects ours. We consider them key members of our team, as they continue to impress us with their expertise and delivery.”
