Lead Forensics

PORTFOLIO

Measured Identity Hub: Smart investment creates independence

Private equity-backed corporate carve out supports management team’s vision for growth.

Sector
  • Retail & consumer
  • Support services

Mi Hub is the UK’s largest supplier of workwear solutions, trading internationally through their Dimensions, Affinity, Alexandra and Yaffy brands.

Deal type
  • Carve out
Deal value

£50m

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.

orange quote mark
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.”
Martin Lynne, Managing Director
Alexandra (Mi Hub brand)

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.

Awards

International Deal of the Year

Insider Midlands Dealmakers Awards

Healthcare and Pharmaceutical Supply Chain Excellence Award

Supply Chain Excellence Awards 2020