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British designer and manufacturer of workwear, Wearwell sold

 

Posted on 24 August 2017

Wearwell Group Limited, British designers and manufacturers of high quality technical workwear, has been sold to Richard Wright in a deal advised by the Corporate Finance division of Smith Cooper.

Established in 1939, the company has a long legacy of strong customer retention based on service, quality, innovation and price, with many leading global blue-chip brands using its garments.

With significant manufacturing capability in the UK, Wearwell was well known in the market due to their ability to provide customers with a 24-hour response time along with a range of value-added services, including alterations, embroidery, heat seals and the manufacture of non-standard sizes.

Smith Cooper’s Corporate Finance division were appointed to provide full sale process management services to the sellers during the transaction. This included marketing, buyer identification, negotiation and process management.

Smith Cooper secured a successful sale of the business to Richard Wright, an ex-Vice President of Kwintet, an international workwear supplier. Richard Wright was supported by Private Equity firm Rockpool investments.

Ed Wesson of the Smith Cooper Corporate Finance division who advised on the transaction commented: “We were delighted to assist in the successful sale of Wearwell, and believe the buyer will only enhance the existing range of value added services offered by the business. The amalgamation of two industry experts will bolster the growth of Wearwell and preserve its legacy.”

Bea Greasley, CEO of Wearwell, commented: "When planning my retirement as Managing Director and controlling shareholder from the Wearwell Group, I had no hesitation in choosing Smith Cooper as my advisors.

I was introduced to their specialist team when planning my exit and found them extremely knowledgeable and helpful when guiding me through the many complex issues that arose as part of the process. Their team is made up of consummate professionals, who strive to explore every avenue available and have their client’s best interests at heart.

From start to finish, I found the specialist advisory team very personable, consistently offering sound, pragmatic advice which was commercially realistic and delivered in a professional manner. Their promptness and flexibility throughout the whole process was greatly appreciated, particularly during stressful periods.

Smith Cooper delivered everything required and I want to thank them all for a very successful outcome. I would have no hesitation in recommending them."

The transaction was also advised on by the Nottingham Office of Geldards LLP.

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