About the client
Green + Benz is a leading contemporary jewellery retail specialist operating from a number of stores located in Yorkshire.
The Company stocks the popular Pandora brand of jewellery in addition to a number of award winning contemporary designer ranges which have an emphasis on silver and platinum collections. The Green + Benz name had developed a strong brand recognition and a celebrated reputation in the retail jewellery market.
Rickitt Mitchell was approached by award winning gemologist and Managing Director, Helen Dimmick, formerly of Tiffany & Co, to lead a management buy-out of Green + Benz Limited.
About the deal
The business was 100% owned by the founders who were no longer involved in the day-to-day running of the business. Rickitt Mitchell advised and led negotiations on behalf of Helen and the management team to acquire 100% of their shareholding in the Company and appoint an industry leading non-executive Chairman.
Structuring a deal to effect this required a multi-tiered debt and equity financing solution that included an element of deferred consideration, equity funding from a high net worth individual and debt funding lines from a bank
"Without the support of Rickitt Mitchell, and especially Neil, I do not believe we would have reached a successful conclusion. Neil’s support and mediation over two years has been faultless. The business is now well positioned and financed to grow and increase market share."Helen Dimmick | Managing Director | Green & Benz Ltd