UNQUOTE

BancBoston Capital sells lingerie firm for x6 money

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London based BancBoston Capital, now part of the European private equity network of Bank of America, has sold its stake in Unity Brands Ltd, the leading specialist lingerie manufacturer, to the incumbent management for a total return of six times its original investment.Unity Brands, with global turnover in 2004 in excess of £40m, is the only UK designer and manufacturer of high quality, fashion lingerie and swimwear specialising in larger bra cup sizes. Based in the East Midlands, at Desborough in Northamptonshire, the firm employs over 400 employees in the US, France and Germany, and the UK.

In 1993, managing director Tony Thwaites acquired the company, which had been originally established in the 1920s, from the Sterling Group Plc. Since then, and with the backing of BancBoston from 1997, Thwaites revitalised the brands’ independence, grew sales eight-fold, and extended the company’s geographical reach into Europe and the US.

Today, Unity Brands operates four precisely targeted, market-leading brands: Rigby & Peller, which is the only range to hold the Royal Warrant of appointed Lingerie Manufacturers to HM Queen Elizabeth II and offers truly luxurious lingerie; Freya, which targets a younger audience with up-to-the-minute designs and provides support through J cup; Fantasie, which specializes in pretty, stylish every day bras for the fuller-breasted woman through to the JJ cup; and Goddess, which offers classic and fashionable choices for the full figured woman.

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