Rockpool, the private equity firm has invested £5 million in Wearwell, the Staffordshire workwear manufacturer. This investment has come as a part of a buy-in management buyout, or BIMBO for short. This deal means that there have been some changes made to Wearwell, as Richard Wright the former Vice President of Kwintet has joined the company as the chief executive.
The new appointment has taken place as part of the BIMBO deal and Wearwell has acquired an experienced individual. Richard has been working as a part of the workwear industry for a number of years and will no doubt be an asset to Wearwell. Richard has expressed his excitement to contribute to the brandâs future with the support of Rockpool.
This business move taken by Rockpool and Wearwell has been advised by Brabners Corporate Finance, and their team which was led by Paula McGrath. This new move for the workwear manufacturer, and it will hopefully set solid foundations for the company to build upon and expand in the future. It is thought that this investment by Rockpool will be great news for the business which has been projected to grow at a sustainable level over the course of the next few years. The support that will be provided through Rockpoolâs investment is also a vote of confidence for the operations carried out by Wearwell and demonstrates the potential and reputation of the workwear manufacturing company.
The Staffordshire workwear manufacturer has seen investment from the private equity firm, Rockpool, the independent firm who looks to invest in private companies. This £5 million investment will be a financial boost to the manufacturing company which could open up a whole new range of opportunities such as bringing expansion plans forward, restructuring and investing in their efficiency or taking on more staff. The significant investment reflects how much potential is visible in the workwear manufacturing company and hopefully this investment will have promising results.