Local Firm Help National Management Buyout
A local investor has backed the management buyout of a national jewellery supplier with the help of South West law firm Foot Anstey.
London based Mint Design, formerly part of the East retail group, are wholesale suppliers of jewellery to East and other high street retailers including House of Fraser and Fenwick. They source original jewellery, scarves, bags and other accessories from around the world and wholesale the product on a branded and private label basis throughout the UK and Ireland. They regularly feature in Drapers Record, the leading trade magazine, as ‘the best jewellery wholesaler’ and in the top three for accessories and in August 2007 were voted best accessory brand at Pure, the leading UK trade show.
East, a fashion chain with over 60 outlets decision to exit from the wholesale side of the business created the opportunity for the management buyout of Mint Design.
Business angel Peter Kirvan has previously invested in South West businesses The Virtual Book Company which launched its DVD guide to the South West Coast footpath on 1 March and "Artisan- the Catering Butcher” .He approached corporate partner Richard Coombs at Foot Anstey, who had advised the Virtual Book Company on its fundraising, to act for himself and the management team at Mint Design
Richard said: ”We were delighted to get the opportunity to pitch for this work and win it. Increasingly we are gaining referrals to carry out complex corporate work outside the South West because of our expertise and experience coupled with our lower cost base. I also do believe that we have a more commercial, practical approach compared to most City firms”.
Mint Design Managing Director Simon Rapley said: “We were delighted with the support and commitment from the Foot Anstey team.
“Despite the concerns about the British High Street we are confident that the quality of our product and our market sector focus will combine to enable us to grow the business and continue the success of our brand. In fact we started the year with a record start by selling our jewellery at the recent three major UK Trade Shows.”
Published 19/03/2008
