Business Weekly - Cambridge, UK

Indexmode (Italia) Ltd, a Chelmsford-based supplier of children’s fashion socks and tights has taken a significant step forward in its future growth plans via the acquisition of Jade Hosiery Ltd, a supplier of ladies hosiery.

The acquisition has been supported through a senior debt package from The Royal Bank of Scotland and RBS Invoice Finance, who will provide the company with working capital facilities moving forward.

Indexmode (Italia) Ltd has been trading since 2000 and its growth has been underpinned by a number of contracts with High Street retailers, including Debenhams, Bay Trading and British Homes Stores (BHS).
 
Acquiring Jade Hosiery Ltd, an established hosiery business is an excellent strategic fit relative to Indexmode’s business growth aspirations. The combined business will form a significant presence in its chosen market and benefit from a number of positive synergies arising post-acquisition.

Mark Baumal, managing director of Indexmode, said: “The enlarged business increases our market share and enables us to compete for new customers. We have increased the number of outlets on the High Street for our products and aim to use this acquisition as a platform for further growth.”

The management team were advised on the acquisitions by lead corporate adviser, Bird Luckin, with Tollhurst Fisher providing legal services. Financial due diligence was undertaken by Price Bailey.

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