Fri, 17 Apr 2020 | BUSINESS SALE
Shirtmaker TM Lewin has been put up for sale by its owners Bain Capital, making it the latest UK retailer to seek a new buyer amid the coronavirus lockdown.
Corporate finance firm Alantra has been hired to run the auction, with interested parties asked to submit offers for the business this week. TM Lewin has been backed by private equity group Bain Capital through its debt investment arm since 2015.
The London-based menswear retailer, was founded in 1898 and is described as one of the most prominent tailors in the UK. It trades from 66 UK stores, employing 700 staff, and also has 5 locations in Australia.
TM Lewin’s stores has been closed during the coronavirus pandemic and 650 of the company’s staff have been placed under furlough through the government’s Coronavirus Job Retention Scheme, with 50 continuing work on the company’s digital operations and supply chain.
The company’s most recent accounts were filed for the year ended February 23 2019. At the time, the company reported that it had made investments in developing its product range and that it continued to see strong growth in its online business, lead by an upgrade of its web platform.
At that time, it delivered EBITDA of £6.58 million, up from £5.2 million the year before, while turnover increased from £120 million in 2018 to £121.8 million in 2019. The company reported holding net assets of £73 million at the time, with fixed assets amounting £14.5 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
Well-established business operating for over eight years. Specialises in the online sale of both own-brand and leading brands of gardening and horticultural supplies across the UK. Enviable client base comprising a number of long-standing relationshi...
RELOCATABLE
This is a well established and well used local post office situated in a densely populated area of East London. The area surrounding the business is extremely busy through the week and weekends due to the travel links and leisure facilities close by.
LEASEHOLD
Offers an extensive selection of quality products, including pitched and flat roof windows, composite and uPVC windows and doors, and roofing products. Works with leading manufacturers to supply premium, branded products, many of which are exclusive...
FREEHOLD
19
|
Jan
|
Injection moulding business sold out of administration to employees | BUSINESS SALE
Conwy-based injection moulding company A2B Plastics Limited ...
18
|
Jan
|
AFH Financial Group ready to return to acquisition trail in 2021 | BUSINESS NEWS
In its yearly report to October 2020, wealth manager and adv...
15
|
Jan
|
Buyer sought for portfolio of pubs | BUSINESS SALE
Five pubs that formerly operated under the Authentic Alehous...
Sign up to receive our acquisition alert emails to get your FREE guide
28
|
Sep
|
Life insurer LV= in talks over potential takeover | BUSINESS NEWS
Mutually-owned life insurer LV= has confirmed that it is in ...
01
|
Jul
|
TM Lewin to close all UK stores in pre-pack administration | ADMINISTRATION
Shirtmaker TM Lewin will close all 66 of its UK stores as pa...
20
|
Apr
|
Young's Seafood owners put business up for sale | BUSINESS SALE
The owners of Young's Seafood have placed the British f...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources