Quba, the nautical-inspired clothing manufacturer, has welcomed a new senior management team as part of a buy-in which has seen a group of investors, along with existing management, acquire and invest in the South Devon-based business.
The corporate team at North West Law firm SAS Daniels LLP advised the management buy-in team, which included retail expert and former Harrods director Nick Allen, Quba co-founder Jim Hartley and former Ernst & Young and HMV director Richard Church. Allen becomes chief executive officer, Church chief operating officer, and Hartley takes on the role of sales director.
Quba, which was established in 1996, plans to use the new investment to expand operations. It currently employs 65 people in the South and South-West of England, where it has 13 shops and a manufacturing unit, based in South Devon.
Nick Allen, commented “These are exciting times for Quba and I am very much looking forward to working with Jim, Richard and the rest of the team. This new investment will provide great support as we work to implement Quba’s plans to develop its product range and to reach an international market.”
Jeremy Orrell, Head of Corporate at SAS Daniels LLP, said “The retail sector has been in the doldrums, but the right businesses can thrive with the right guidance, so it is good to see the investment in Quba. This is a clear sign of the confidence our clients have in the brand and we are really looking forward to seeing them go from strength to strength”.
The existing shareholders and the management were advised by Ashford, Solicitors of London and Exeter. Its team was led by Louise Workman and included Angus Bower, Charles Pallott and Tom Potts.
Retail corporate finance specialist Arygll Partners provided corporate finance advice and Ben Grist of Dixon Wilson provided tax advice.
This article has been published in The Business Desk.