Blue Max Banner MBO
Nigel Plenderleith leads management buyout of schoolwear specialist Blue Max Banner.
By Laura Turner
14 July 2015
The shareholder of schoolwear specialist Blue Max Group has announced the sale of the business. Led by Blue Max Group’s managing director, Nigel Plenderleith, the buyout has been backed by growth capital investor MML Capital Partners.
“MML was our preferred investment partner because it promised long-term commitment and investment in the business,” says Plenderleith, who will continue in his role as Blue Max Banner managing director under the new ownership.
“The MML team is also flexible in its approach and will allow us to get on with the job,” he continues. “It’s very much business as usual from this morning.”
Luke Jones from MML adds, “We invest in businesses as a partner alongside management, and allow them to take the next step on their journey by investing in strategic opportunities that add value to the business. The Blue Max Group is a successful, well-run business, and we are delighted to be part of its future in an expanding schoolwear market.”
Blue Max, which was founded by Mary Fawcus in 1987, has been majority owned by the Fawcus family since its inception. Mary Fawcus, her husband, and former CEO David Fawcus, will be retiring from the business. Their daughter Fenella will also be leaving to pursue other interests.
“Blue Max has been an incredible journey,” says David Fawcus. “We feel that allowing the management to take the business forward is the correct thing to do.
“We have been closely involved in the process to ensure that there is adequate investment to maintain our core principles,” he continues. “We wish Nigel every success with the business and we are delighted to be able to hand over the reins to him.”
The new senior management team and board of directors will be announced shortly.
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