A leading manufacturer of men’s shirts, knitwear and accessories has received a £1.2m cash injection from Centric Commercial Finance.
M2C2, which owns the Peter England, Tootal and Rocola brands and is also licensed to sell Viyella clothes, secured the investment following a management buyout (MBO) after the death of the company’s owner last year.
The company was initially set up as the result of another MBO in 2001 from the Coats Viyella Division.
Jim McConnell, managing director at M2C2, said: “Any company that has been around as long as we have will inevitably deal with an MBO from time to time and being able to execute one this year means we are well placed to continue producing a quality product for our clients.”
David Ashton, Centric’s director of business development for the South West and Wales, said: “We all know retailers work to a seasonal calendar so, although they may be selling all year round, M2C2 will still see peaks and troughs.
“MBOs naturally put financial pressure on these cycles but, in M2C2’s case, it also signalled an intention to remain a market leader. We’ve been impressed by the strength of leadership at M2C2 and felt confident we could work together.”