SIA Group provides pre-lend collateral due diligence for UK’s leading school wear supplier
SIA Group supports pre-lend collateral due diligence for UK’s leading school wear supplier
Banner was established in 1987 and has grown to become one of the UK’s leading school wear suppliers. Business growth has been considerable in recent years through the integration of major sector brands, such as Beau Brummel and Orion, and via supply chain integration to the end customer and product range expansion.
The business encompasses two distinctive divisions, school wear and sports wear. It employs 340 people across four main sites in Trowbridge, Runcorn, Stockport and Seaham, and also in 31 retail stores.
SIA Group conducted ABL pre lend collateral due diligence and subsequent regular inventory audits across the Banner companies.
“The smoothness of the deal process was a pleasant surprise and SIA Group played an important part in that respect.”
Rob James, Financial Controller, Banner, said:
“This was quite a sizeable ABL deal and an important milestone for the next stage in the development of the business. The smoothness of the deal process was a pleasant surprise and SIA Group played an important part in that respect. The team at SIA Group was very good at explaining what they needed, and the goals and steps involved. The quality of communication during the transaction and beyond has been excellent. SIA has been a pleasure to work with and always very helpful.”
Paul Craig, Managing Director, SIA Group, said:
“We thrive on pro-active communication to ensure certainty of delivery of our due diligence reports. We are delighted to have played our part in ensuring Banner has the ideal ABL platform for the next stage in the development of the UK’s pre-eminent school wear brands.”