Formed in 1888, T. H. Baker Ltd is a family-run jeweller with a network of stores across the UK and a strong online presence. T. H. Baker is an authorised dealer offering leading brands such as TAG Hauer, Breitling & Gucci plus their own T. H. Baker products.

Hobbies Ltd is an online retailer providing model makers and enthusiasts with a wide range of quality model kits, accessories, tools, components and guidebooks.

The shareholders of T. H. Baker wished to leverage their online expertise and to diversify into new markets through acquisitions of online retailers operating in different sectors.

Orbis was able to identify targets in complementary markets which we were not able to reach. They led the process efficiently, focussing on getting to terms as rapidly as possible, saving us time and effort. During the negotiations they provided a vital role, guiding the parties to a successful conclusion.

Andrew Higgs, Director


Orbis was retained by T. H. Baker Ltd to research, identify, approach and act as lead advisors in acquiring an e-commerce business. Orbis identified Hobbies Ltd and led the transaction through to completion.

Specifically, Orbis:

  • Worked with T. H. Baker to create an acquisition ‘wish list’, drawing up criteria of what a suitable acquisition target would look like
  • Researched the market to identify suitable targets using Orbis’ network, research tools and desktop research
  • Approached potential targets directly and engaged in initial discussions
  • Analysed the targets to assess their fit with the acquisition profile
  • Valued the targets
  • Narrowed the targets down to a shortlist and specifically to Hobbies Ltd
  • Negotiated the transaction including price, deal structure and handover terms
  • Supported the due diligence team
  • Worked in conjunction with the lawyers to agree on SPA issues as well as preparing the deal funds flow and distribution summary

For more info:


Registered in England No.9098428 Registered Office: One Eleven, Edmund St, Birmingham B3 2HJ
The statutory directors of Orbis Partners Ltd are Chris Gregory, James Grenfell, Gary Ecob and Shah Zaki.