Caird's TM Lewin in potential £100m sale

The company has been in talks with advisers over the past month regarding a possible sale, according to The Independent.

Caird acquired its minority stake in the £50m management buyout of TM Lewin in May 2006, according to unquote" data.

TM Lewin, which was founded in 1898, is headquartered in London and currently employs 960 staff. The company began as a shirt maker in the City of London but has, in recent years, expanded into other countries including Singapore and Australia, and now offers a wider range of formal clothing for both men and women.

The company recorded turnover of £106.5m for 2012, as well as an operating profit of £6m. Geoff Quinn is TM Lewin's chief executive. Andy Powell, a partner at Caird, manages the firm's investment in TM Lewin.

Powell was not available for comment at this time.

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