Prism Facilitate Further Acquisition for the Milbank Group
Family-owned investment company, Milbank Group, is continuing to grow its portfolio of businesses with its latest acquisition, leading mastectomy and post-surgery wear specialists Nicola Jane Ltd, in a deal facilitated by specialist advisors in buying and selling businesses, Prism Corporate Broking.
Traditionally, the name Milbank is synonymous with precast concrete products, however, the Group’s already diverse range of businesses includes Cadman Cranes, Sui Generis International, ARK Agriculture and Orion Future Technology.
Nicola Jane was established in 1984 with a mission to restore confidence and femininity after breast surgery following a breast cancer diagnosis. Today, they are the UK’s leading mastectomy and post-surgery wear specialists. It is based in Chichester, West Sussex, and has grown significantly over the years, expanding its reach and brand loyalty across the world, including customers in Hong Kong, Israel, USA and Spain.
A strong synergy between Milbank Group and Nicola Jane is a focus on sustainability. It forms one of Milbank Group’s core values and is well reflected within the Nicola Jane ethos too. Nicola Jane is committed to waste-reduction, 20% of their bras and swimwear ranges are manufactured from ‘end of line’ fabrics, usually destined for landfill and they use 100% recyclable packaging materials.
Milbank Group’s successful e-commerce division is well positioned to support Nicola Jane in its next stage of growth both in the UK and internationally. Nicola Jane’s Managers, Claire-Marie Farrar and Melissa Muvuti will take over the running of the business with immediate effect. Both will be supported by the 25+ strong team at Nicola Jane, along with any additional support required from Milbank Group’s resources.
Sean Milbank of the Milbank Group said, “Nicola Jane falls firmly into the category of being different or diverse from the rest of the Group businesses, a key element of our growth strategy. It’s a great business providing outstanding products through caring and friendly customer service, a culture that is perfectly aligned to the rest of the Group businesses. We look forward to introducing Nicola Jane products and brand to many more customers and further expanding the company’s global reach.”
Peter Watson, managing director of Prism Corporate Broking said, “This was certainly a change from our usual acquisition targets, however Nicola Jane is a great business, with high quality niche products that are in demand across the world. The deal progressed well from both sides and it was evident that both companies share similar cultures and core values. I congratulate Sean and look forward to seeing the company’s continued success.”
Peter Lawrence, founder and Managing Director of Nicola Jane said, “I am delighted that we have found a buyer who is committed to the long-term stability of Nicola Jane. I feel confident that the Milbank Group will continue to nurture the business, support the staff and care for our customers – all factors which have proved critical for our success over the past 36 years. I wish the future owners the very best in continuing and growing its legacy.”
As a part of the Milbank Group, Nicola Jane joins Milbank Concrete Products, Sui Generis International, Cadman Cranes, ARK Agriculture, Thomas & Fontaine (t/a Secure Covers) and Orion Future Technology. A detailed overview of each Group company can be found within the Groups website.
The acquisition of Nicola Jane Ltd was completed on Friday 29th January 2021 led by Prism Corporate Broking (buy side advisors), Birketts Solicitors and Ensors (Tax Due Diligence).
For more information on the Milbank Group and its companies, please visit www.themilbankgroup.co.uk.