International MBO of one of Europe’s leading suppliers and distributors of fast fashion
BUSINESS OVERVIEW
Elite Creations is one of Europe’s leading suppliers and distributors of fast fashion accessories with offices and showrooms in Hong Kong and London together with a UK based design team. Elite Creations has a turnover of £20m supplying over 30 retail groups in the UK and exporting to customers in Spain, Germany, Scandinavia and the Middle East.
This is the beginning of a new era at Elite….We look forward to continuing Elite’s expansion plans for many years to come.
Nitesh Sakhrani, CEO
OUR ROLE
Orbis supported the management team securing funding and advising on deal structure. Funding had to be sourced both in Hong Kong and London and legal advice was required across two jurisdictions. The complex nature of the deal required new control systems and processes in the business and Orbis played a major role in developing these with management.
Specifically, Orbis:
- Worked with shareholders to understand the business and their aims
- Developed a detailed three-year cash flow forecast
- Developed an appropriate funding structure and approached relevant banks and alternative investors
- Led the preparation and review of the financial due diligence on behalf of the shareholders
- Worked alongside the business’ tax advisor to ensure the transaction was structured and completed in the most tax efficient manner
- Worked alongside the legal team to negotiate the legal agreements
