MML Capital-backed BMB buys its UK counterpart SWI Schoolwear
BMB, one of the UK’s leading independent suppliers of schoolwear and sportswear, has recently announced the acquisition of SWI Schoolwear.
Completed on 1 July 2016, and funded by growth capital investors MML Capital Partners and Barclays Bank, the acquisition will see BMBs dependable, consistent high-service standards coupled with SWI’s strengths in design, product development and marketing to drive the market forward in line with school, parent and student requirements.
With SWI renowned for its strong sportswear portfolio designed collaboratively with athletes and students, it will enable BMB to further extend its reach into the sportswear market. In addition, SWI currently generates approximately 30% of its product sales through retail partnerships, further strengthening BMB’s strategy to grow its offering in this space.
Nigel Plenderleith, BMB’s Chief Executive commented: “The market continues to change and we need to ensure that we adapt and move the business forward through product innovation. To achieve this it is crucial to have a solid understanding of the needs of the end user along with a multi-channel reach.
“Combining our extensive experience and product portfolio with SWI’s design, product development and marketing capabilities will provide us with enhanced opportunities as part of an enlarged group, enabling us to provide the entire market with high quality clothing on a much larger scale.
“We are excited at the prospect of joining learnings and best practice from both businesses with customer insight and research, to take the company forward.”
Kirk Robertson, founder of SWI, said: “We are very pleased to join BMB and look forward to working with Nigel and his team to drive the industry forward. We believe this is a perfect fit, bringing together leadership, expertise and complementary capabilities to meet the market’s ever changing requirements and deliver outstanding service.”
Following the acquisition, SWI will join BMB and its entire product range will become part of the Group’s portfolio.
Source : BMB Press Release