Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Lloyds puts TM Lewin stake on the market

Shirt specialist TM Lewin is exploring its options after Lloyds Banking Group put its 20% stake in the business on the market.

According to The Financial Times, TM Lewin is using the divestment of the stake to look at opportunities for its next stage of growth.

Professional services BDO is advising the company which is expected to be valued at £100m. TM Lewin is likely to consider refinancing, or a deal to take TM Lewin out of the Lloyds investment stable and put it with a new funding partner.

A sale by the management team led by chief executive Geoff Quinn, who owns the remaining 80%, is thought to be unlikely.

In the year to February 28, 2009 gross sales rose 23% to £78m boosting EBITDA by 16% to £12.7m.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.