Torque Brands acquires menswear retailer T.M. Lewin

Wed, 13 May 2020 | BUSINESS SALE

SCP Private Equity has agreed a deal to buy London-based mens retailer T.M. Lewin through a special purpose acquisition vehicle named Torque Brands. Torque Brands has ambitions to build up a portfolio of 5-8 brands over the next 12-18 months. It is solely focused on acquiring complimentary British brands, which will be integrated onto one common shared services platform - leveraging group and platform efficiencies across the acquired businesses.

The purchase of T.M. Lewin follows the hiring of corporate finance firm Alantra to run an auction of the business in April 2020. T.M. Lewin has been mostly owned by private equity group and global credit specialist Bain Capital Credit since 2015.

Founded in 1898, the London-based menswear retailer has grown into the most prominent tailors in the UK, trading from 66 UK stores, with 700 staff, plus another 5 locations in Australia. Total sales are around £120 million.

T.M. Lewin’s brand values are craftsmanship, value for money and attention to detail. The company’s online sales have grown quickly, totalling more than 30% of the group’s revenues last year, with the brand over indexing in terms of sales in the 25 - 34 year-old demographic, positioning it well to capitalise on the growth in smart casual workwear.

SCP, a specialist private equity investor, focused on the consumer sector, is headed up by Managing Partner, James Cox; who will also act as Executive Chairman of Torque Brands. Cox is working alongside a seasoned team of investment and operating experts, who combined have led liquidity events totalling more than £30 billion in the sector.

Commenting on the announcement James Cox, Managing Partner of SCP said: "There are significant headwinds against great retail businesses in the current environment - posing a very real threat to the sector’s future."

"We wholeheartedly believe that specialist vertical-specific British brands, such as T.M. Lewin, will continue to hold a premier position in the eyes of the global consumer, and look forward to the challenge of helping the company adapt to the rapidly changing retail landscape."

"Torque Brands has been set up by SCP to acquire a portfolio of complementary British Brands into one centralised shared services platform. It’s a big supporter of the power of brand Britain and is actively acquiring heritage homegrown talent which we see having a long and successful future."

"We very much value the brand, and look forward to building on the great work done by the team to date.”

Brad Palmer, a Managing Director at Bain Capital Credit, said: “We have supported T.M. Lewin since 2015 and, together with the team, have continued to build this venerable British brand."

"Notwithstanding the challenges facing the retail sector, and most recently from COVID-19, since our ownership the business now has a true multi-channel business in the UK across stores and online, a large and loyal customer base and an even stronger brand proposition."

Share this article

Latest Businesses for Sale

Plant Hire & Sales
Lincolnshire, UK Wide

Established in 1975, this is the "go to" plant hire business within the Spalding region. They have a vast and ever growing customer base that is well diluted. The premises were purpose built, fully secure with ample room for expansion. The 2nd tier m...

Asking Price: £900,000
Turnover: £662,000


Premium Gardening Supplies Online Retailer
UK Wide

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...

Asking Price: Offers Invited
Turnover: £5,600,000


Online & Retail Florist Business
Oldham, Manchester, North West, UK

Established in 1978. Excellent reputation. High profit margins. Mix of corporate and general public customers. Further growth potential. Seen large growth in online. Offers invited.

Asking Price: £70,000
Turnover: £327,000


View more businesses for sale

News Search

Latest News


Trafford Centre up for sale after Intu administration | COMMERCIAL PROPERTY

Manchester’s Trafford Centre shopping mall is up for s...


Administrators bring three former Shepherd Cox Group hotels to market | DIVISION SALE

Administrators have put three hotels in the North of England...


Baird Group to close stores as CVA is approved | BUSINESS NEWS

Retailer and wholesaler Baird Group, the license holder for ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


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...


Menswear retailer TM Lewin put up for sale | BUSINESS SALE

Shirtmaker TM Lewin has been put up for sale by its owners B...


Young's Seafood owners put business up for sale | BUSINESS SALE

The owners of Young's Seafood have placed the British f...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources