Mi Hub is the UK’s largest supplier of workwear solutions, trading internationally through their Dimensions, Affinity, Alexandra and Yaffy brands. Globally, over four million people go to work every day in uniforms provided by the Mi Hub group, which achieved £170m sales in its latest financial year.
In 2019, LDC backed the management buyout of the corporate apparel business of US-based Tailored Brands Inc (NYSE:TLRD) in a deal which valued the group at £50m.
We are backing the management team to realise its vision as the company embarks on the next stage of its growth strategy as a standalone business.
This includes investing in its service lines and infrastructure to accelerate organic growth at home and overseas and to explore complementary acquisitions to drive further international expansion.
Since LDC’s investment, key contracts with a number of large UK customers have been successfully renewed, with several new international contracts also secured.
Mi Hub has also continued to invest in IT and eProcurement to improve the end user experience and offer account efficiencies, allowing the business to further develop its digital footprint in the year since LDC backed the business.
Our Value Creation Partners have also supported the management team in defining and rolling-out a comprehensive marketplace strategy across multiple-markets, starting with the UK and rapidly expanding across the EU and beyond. This included over 1,000 products being listed on Amazon and eBay where £90k monthly sales were achieved.
LDC’s Value Creation Partners brought best practice experience to unlock a new E-commerce marketplace opportunity for our business. Working in partnership with the team we have created a strong new growth channel.”
Alexandra, an MI Hub brand won a contract in January 2021 to provide winter uniforms for Covid-19 testing centre staff. The company has secured an agreement to supply staff at more than 100 Sodexo-managed drive and walk-through centres.
Mi Hub was recognised in the recent BVCA Report ‘Adapting with Purpose’. Produced in partnership with Grant Thornton, the report showcases the best examples of private equity-backed businesses and how they adapted to challenges of the pandemic in agile, efficient and exceptional ways.
Mi Hub was included for its business model adaption when it had to manage severe disruption to its supply chain and establish new supply routes when the pandemic swept the Globe.
ESG Journey
Mi Hub became the first uniform provider to join Zero Discharge of Hazardous Chemicals (ZDHC)’s wastewater transparency programme, ‘Roadmap to Zero’. The group of brands aims to reduce and eventually eliminate hazardous chemicals from manufacturing and production processes in the textiles, leather and footwear industry. In 2020, Mi Hub pledged that 80% of its fabric volume would come from mills participating in wastewater testing by 2025 and being part of ZDHC’s network will help it to meet that target.
Mi Hub developed a Circular Bi Design approach, using recycled and reusable materials, repurposing redundant stock, partnering with charitable recycling bodies and using sea freight where possible.
The business also launched its new ESG site, called ‘Mi ESG Hub’. As part of the company’s wider website relaunch, this new site will allow users to explore MiHub’s ESG pillars and objectives and how the business has been doing to achieve these goals. The site also hosts the MiHub’s most recent ESG report that lays out plans for it to achieve verified carbon neutrality on Scopes 1 and 2 by 2030 and Scope 3 by 2040.
Mi Hub also partners with LDC portfolio company Sedex to audit the garment manufacturers in its supply chain, undertaking walkthrough assessments when visiting every supplier’s workspace to ensure high health and safety standards are being adhered to.
Mi Hub is in the top 5% of apparel manufacturing companies rated by EcoVadis and recently achieved the business sustainability ratings provider’s gold award for its sustainable performance.
Awards
International Deal of the Year
Insider Midlands Dealmakers Awards
Healthcare and Pharmaceutical Supply Chain Excellence Award
Supply Chain Excellence Awards 2020