Charles Russell Speechlys advises Rockpool Investments on the buy-in management buyout of Wearwell
Charles Russell Speechlys has advised Rockpool Investments on the recent buy-in management buyout of work wear provider, Wearwell. Established in 1939, Wearwell supplies a variety of industries with work wear, ranging from chefs’ whites through to lab coats and boiler suits. Rockpool has invested £5m in the transaction and this is Rockpool’s 11th deal of the year, increasing total capital invested to £60m.
This acquisition will see Richard Wright, former vice president of international work wear business Kwintet, team up with Rockpool to become chief executive of Wearwell. Mr Wright said: “Having been in the workwear industry for many years, I am thrilled to be part of taking the Wearwell brand into its next stage of development. The team and I are excited about our plans for the brand’s future and we are looking forward to realising these with Rockpool’s support.”
Commenting on the transaction, Malcolm MacDougall, Partner and head of the Private Equity team at Charles Russell Speechlys, said: “ We are delighted to have advised Rockpool on the transaction. This is our second successful completion for Rockpool this year, having completed the investment in Cotswold Collections earlier in the summer, and we look forward to continuing to grow the relationship going forward.”
The Charles Russell Speechlys core team was led by Malcolm MacDougall and Private Equity Senior Associate, Richard Coleman assisted by Associate, Amy Utley. Banking Partner, Paul Kay, and Banking Associate, Edith Lai led on the debt funding documentation. The core team were supported by members of the Commercial, Employment and Tax teams.
For more information, please contact: Malcolm MacDougall on +44 (0)20 7427 4544 or malcolm.macdougall@crsblaw.com.