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Gordon Brothers Executes £25M Financing Facility to Support MIP Holdings’ Public-to-Private Takeover of French Connection

Gordon Brothers, the global advisory and investment firm, arranged, structured and executed a £25 million asset-backed financing facility for MIP Holdings Limited (MIP) in partnership with Aurelius Finance Company. The funding supported MIP’s public-to-private takeover of French Connection Group PLC (French Connection).
Gordon Brothers delivered the majority funding on the transaction, providing £17.5 million for the financing facility. Aurelius Finance Company provided £7.5 million as co-lender. The facility includes an acquisition finance tranche to refinance French Connection’s existing secured lender and a working capital tranche to support the retailer’s liquidity needs going forward.

“We are extremely delighted to have collaborated with the MIP consortium in what has been a transformative financing facility,” said Nimit Shah, Managing Director at Gordon Brothers. “The combination of MIP’s expertise in wholesaling, coupled with our deep knowledge of consumer brands, helped us unlock value to execute the facility of the British heritage brand in a tight timeframe.”

This financing facility extends Gordon Brothers’ long-standing partnership with French Connection, having supported the brand with its exit from Japan in 2010. In the same year, the firm was mandated to provide real estate services for 15 locations in the U.S. Additionally, Gordon Brothers supported the wholesale inventory disposition over a three-year period.

“We are tremendously excited for the opportunity to finance an iconic brand such as French Connection,” added Tobias Nanda, President, Brands at Gordon Brothers. “This transaction is a perfect example of how Gordon Brothers supports and invests in global brands to help fuel their growth.”

“Gordon Brothers’ asset valuation expertise and market-leading knowledge of brand-based financing made them a strong partner for us,” said Apinder Singh Ghura, Director at MIP Holdings Limited. “We’re pleased to have worked with them on structuring this complex transaction, and were impressed by their speed and flexibility.”
Please contact Nimit Shah at [email protected] or Tobias Nanda at [email protected] for more information.

About Gordon Brothers
Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with over 30 offices across five continents.

About French Connection Group
French Connection is a global wholesaler and licensor of fashion clothing, accessories and homeware based in the U.K. Founded by Stephen Marks in 1972, the well-known British brand, which includes the controversial FCUK brand, can be found in stores across the U.K. and worldwide.

About MIP Holdings Limited
MIP Holdings is the acquisition vehicle of Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Limited, a group of experienced businessmen in the wholesale and retail sector, who have previously purchased high-profile fashion brands including Bench and Joe Bloggs.