Home News Wales. The terms of the deal and identity of the management team's backers were undisclosed. Sector News. Council plans approved for a carbon neutral Cardiff by 18 Oct Wales. New Abergele site for self storage business 14 Oct Wales.
Whenever a huge acquisition like that is made some things will be kept, others sold as the parent company consolidates its operations. Makes perfect sense. Not sure what David has to be upset about — he was the one who sold it to Timberland in the first place! He made a lot of money selling out to timberland. How much do we think these jeans will cost?
Firstly as someone else has suggested if the management team have previously made money from the original exit or other ventures they may have sufficient capital to do it completely. More commonly they will put in part of the capital and a bank lends the rest. This is probably harder to do since — but I have heard of this sort of deal still going on last year.
Obviously how likely will depend on the assets the company has and the risk of the investment. It could be a straight equity investment but it would be unusual to see it referred to as an MBO then. Again, in the days when mortgages were easy to come by the management team would probably have remortgaged as well as using their available cash to maximise their chunk of the company up front. Its also not impossible that Timberland have funded the deal. Of course as with all things in corporate finance a single form of funding is not the only answer and it may be a mix of these or even all four.
As the needle goes up and down in a blur of movement and rattling noise, a line of stitching starts to form a neat trouser leg. When most people think about the global fashion industry it is safe to say that a sleepy town in far west Wales does not immediately spring to mind.
Beloved by a growing number of fashionistas from New York to Paris, and London to Melbourne, Hiut ships its expensive jeans around the world.
As orders arrive via its website, Hiut's workforce of just 15 people gets to work hand-cutting and sewing the trousers from giant rolls of indigo-coloured denim that the company imports from Turkey and Japan.
Despite only making around pairs of jeans a week, founder and owner David Hieatt has big ambitions to expand. While it may seem a little incongruous that a posh jeans business is based in west Wales, Cardigan population 4, actually has a long history of jeans-making.
But in the facility closed with the loss of jobs when production was moved to Morocco to cut costs. Fast forward 10 years, and when Mr Hieatt - a proud Welshman - was looking to open a factory to start making jeans, he chose Cardigan.
The company name is a combination of the first two letters of Mr Hieatt's surname and the word "utility". Recommended How East London's traders are joining forces to demand fair rent Small business body calls on Hammond to address late payment 'crisis' How trading and small business has grown inside Rohingya refugee camps.
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