Wed, 15 Aug 2012 | MBO/MBI
Jewellers Green + Benz has been purchased in a management buy-out deal led by managing director and jewellery specialist Helen Dimmick.
Corporate finance advisory firm Rickett Mitchell acted as adviser to the management team, while legal advice was given by Giles Cheshire at Squire Sanders.
The independent jewellery retail chain trades from four shops, with one in Chesterfield, two in Sheffield and one in Manchester, and has a 31-strong workforce.
Shane Green and Julie Benz opened their first Green + Benz store in Sheffield in October 1999. Dimmick started at the firm in March 2011 as managing director after working at Tiffany & Co on Bond Street in London.
Ms Dimmick has taken a controlling stake in the business and will sit alongside current finance and operations director Mark Williams and Alan Higgs, who is the chairman of jeweller TH Baker, on the new board.
Co-founder Mr Green said, “We’re delighted to be handing over the ownership of Green + Benz to a management team who have the ambition and integrity to develop and grow the business.”
Ms Dimmick commented on the deal, “Plans are in place to increase the turnover of the business in the next five years with store developments, expanding product ranges and services and online technology all avenues that will be explored further.”
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RELOCATABLE
This established and ready-to-scale e-commerce furniture business offers unique design-led mid-market products and boasts strong relationships with major UK retailers.
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