We are pleased to share that fds has successfully advised on a management buyout. BIDBI – Bag It Don’t Bin It Limited, a cotton and jute printed bag wholesale company, has been sold to the management team.
An MBO involves selling the business to the existing management team. For a business owner, a sale to the management team could either be the only viable option or the most desirable one.
The deal was headed by Poonam Kaur, CEO of fds, and supported by Founder and Chairman Jo Haigh.
fds worked alongside Roger Dyson and Henry Hill of Knights to drive through a successful sale. The two cooperated to ensure that the client’s requirements were met at all points of the process.
Established in 2007 by founder and former owner Julia Gash, the company trades nationally and internationally. BIDBI makes branded cloth bags as an eco-friendly, fairly traded alternative to plastic bags. The company’s products act as a sustainable marketing tool or ethical fashion accessory for an extensive client list.
Julia Gash commented, “Selling a company is an incredibly involved and demanding process on top of running a business. I’ve realised that it’s critical that you have expert help and guidance all the way. Poonam and her team at fds handled the sales process for BIDBI (Bag It Don’t Bin It) from beginning to end. fds ensured that the deal progressed smoothly and left me with the freedom to carry on with my work.”
Poonam said, “Working on this transaction with a client like Julia has been wonderful. Julia wanted to ensure that we found the right home for her business, with someone who could take it to the next level, whilst she pursues other opportunities. Julia was more than thrilled to learn the management team, Daya Singh, General Manager Designate and Marc Larsen, Finance Manager, wished to acquire the company and believe they are the ideal candidates to take the company forward.”
Roger Dyson added, who heads Knights corporate and business team: “We were delighted to apply our expertise and work alongside fds acting on behalf of Julia on this management buyout, ensuring her requirements and terms were agreed and the completion went through successfully.”
Interested in learning more about how to execute a management buyout? Wondering about the benefits of selling your business to management? Please contact us for a confidential discussion, where the team will be happy to support and advise you accordingly.