Elite deal for Midlands professionals
Who?
Midlands law firm Freeth Cartwright has teamed up with Birmingham corporate finance adviser Orbis Partners.
Did what?
To facilitate Elite Creations’ first corporate deal of 2010.
What does this mean?
The two firms have advised London- and Hong Kong-based Elite on the acquisition of Phase Two Accessories of London, a company with a £5m annual turnover that supplies handbags to UK mid-market retailers. Elite Creations has an annual turnover of approximately £20m and supplies more than 30 UK retail groups, as well as exporting to customers in Spain, Germany, Scandinavia and the Middle East. The company’s accessory ranges include bags, belts, jewellery, eyewear, hats, gloves, scarves and footwear.
Insider comment:
Gary Ecob, partner at Orbis Partners, said: "We are delighted to have supported Nitesh and his team in what I hope will be the first of many acquisitions. It is good to see an international company performing extremely well in such challenging economic conditions."
