Hilco Newsletter Q211 v4.indd

Newsletter
Hilco UK acquires HMV Canada
Newsletter Q2 2011
Hilco completes
Habitat restructuring
enable HMV’s Canadian management team, led by
Nick Williams, to implement their turnaround plans.
The company’s strategy includes developing a digital
media streaming and download platform, whilst
extending the period over which the residual hardcopy
music and video market can be maintained. The
management team is also diversifying the product offer
into other areas, including technology and clothing.
Hilco UK ended an extremely busy month with the
acquisition of HMV Canada from the UK’s HMV Group
plc at the end of June. The transaction, which saw Hilco’s
Steve Pell and Ryan Sher work around the clock, also
includes the provision of a working capital facility to
The company is based outside Toronto and operates
119 stores across the country, making it Canada’s
only national entertainment retailer. Hilco UK has been
successful in securing the support of every major
supplier in the entertainment industry in Canada.
Burleigh completes historic deal
with the Prince’s Regeneration Trust
transforming excess space into a
world class visitor and craft centre.
The Trust is one of the charitable
interests of HRH The Prince of
Wales (pictured, left, with Hilco’s
Paul McGowan and Chris Emmott).
Burleigh, the 150 year old pottery company that was
acquired in 2010 by Denby Holdings (the homewares
group owned by Hilco UK’s private equity arm, Valco
Capital Partners), has completed the sale of its historic
Middleport Pottery premises – the last working Victorian
pottery – to the Prince’s Regeneration Trust.
The site (pictured,
left), located in
Stoke-on-Trent, will
continue to produce
the company’s
famous Burleighware
using the original equipment and processes. Burleigh’s
traditional floral patterns are printed onto tissue using
hand engraved copper rollers and then transferred by
hand to the pottery which is fired for a second time,
glazed and fired again to create a flawless finish.
The sale and leaseback agreement will allow £7.5 million
To find out more, please visit www.burleigh.co.uk.
of investment to be made in renovating the site and
www.hilcouk.com • Tel 020 7317 2050
Hilco UK completed a restructuring
of the worldwide Habitat business
in June with a series of high profile
transactions that are testament to
the hard work and dedication of
a transaction team led by Henry
Foster and Will Stamp.
As part of the restructuring
process, Home Retail Group, the
owner of Argos and Homebase,
acquired the rights to the Habitat
brand in the UK, together with
three flagship stores in London
and Habitat’s award-winning online
operation. The transaction will
enable Habitat to redevelop across
the UK in a more contemporary
and relevant manner.
Habitat has also agreed a
commitment to sell the profitable
international business to Cafom
SA, the French home furnishings
giant that operates the Conforama
and BUT stores throughout Europe.
Cafom will, subject to Works
Council and competition clearance
in France, take all 38 stores across
France, Germany and Spain,
together with the rights to the
brand outside the UK and Ireland.
The transaction marks the p2 ➤
Newsletter
➤p1 completion of a successful
turnaround of Habitat’s European
arm following two years of
significant investment by Hilco UK,
which included a number of new
store openings on the continent.
Twice2much wins Debenhams contract
Andrew Cushion, Managing Director of Twice2much
commented: “Amongst our competition were the two
largest providers of these services in the world, one
of which had been contracted to Debenhams for a
number of years. The breadth of services required is
amongst the most comprehensive ever seen, reflecting
the professionalism of the Audit Team at Debenhams.
I am therefore very proud of our team’s performance
in demonstrating our expertise and ability to provide
the full range of services required by Debenhams and I
now look forward to providing a first class service.”
Hilco acquires
Easyliving inventory
Debenhams, the department store retailer with a
turnover of over £2 billion, 24,000 employees and
160 stores across the UK and Europe, has awarded
Twice2much a Cross Enterprise Audit Recovery
contract that will utilise the entirety of the audit and
recovery specialist’s suite of services.
Hilco Wholesale purchased
£6 million of stock from the
Administrator of failed retailer
Easyliving Furniture in May.
Denby acquires Poole and Leeds Potteries
stores such as John Lewis. The
company operates a visitor centre
at its factory in Poole (pictured,
left) which attracts over 500,000
people a year to its 32,000 sq ft
outlet.
In addition, Hilco’s Retail Agents
team, led by Wayne Dowsell,
operated successful Store Closing
sales in the retailer’s 20 outlets,
liquidating a further £3 million of
inventory.
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2 Hilco Newsletter Q2 2011
The contract is the latest high profile win for
Twice2much which also secured new business with
international IT solutions provider Arrow ECS, several
local authorities and numerous insolvency practitioners
in the second quarter.
Denby completed two major acquisitions in June as
the UK ceramics sector continued to consolidate.
Heritage potteries Poole Pottery and Hartley Greens/
Leeds Pottery join Burleigh and Denby as part of the
Denby Group.
Leeds Pottery can trace its
history back to 1770 but it was
the merger of the business with
Hartley Greens & Co. in 1781
that transformed the fortunes
of the business, creating one of
the largest pottery combines of the 19th Century. Its
unique, pierced creamware remains highly collectable
and can be found in high end retailers such as
Fortnum & Mason and it is exported extensively into
North America.
Dorset-based Poole Pottery was originally founded
in 1873 and is well known for its brightly coloured,
glazed designs which are sold through department
As part of the Denby Group, the new acquisitions will
benefit from far greater distribution opportunities and
increased operational and technical expertise.
www.hilcouk.com
Newsletter
MIG launches IP Support website
The Marketing Innovation Group has launched a
website promoting its new suite of services to support
insolvency practitioners in dealing with the legal
minefield that surrounds customer data in insolvent
businesses.
When a company enters
administration, the
Administrator becomes
the ‘Data Controller’ for
all personal data held
within the business.
As a result, the
Administrator has certain
responsibilities for
personal data under the
Data Protection Act.
by the Information Commissioner including criminal
convictions, fines of up to £500,000 and information/
assessment notices. MIG provides a comprehensive,
cost-effective service to insolvency practitioners to
protect IPs from any
data-related redress
and to increase value
or realisation. Services
encompass managing
risks for the insolvency
practitioner against
breaches of the Data
Protection Act, enhancing
the intangible asset for
future usage or onward
sale and the utilisation of
the data asset during the administration.
The Administrator is personally liable for any
breaches under the Act with sanctions enforceable
For more information, please visit the new website at
www.ipsupport.uk.com.
Oceans blossoms at Flower Show
Judges at the world famous
horticultural show awarded
Oceans’ stand, which paired
the company’s elegant garden
furniture with sumptuous floral
displays, a Certificate of Merit
for Outstanding Presentation.
In May, Oceans Outdoor Furniture, which was bought
out of administration by Valco Capital Partners earlier
this year, scooped a prestigious award at the RHS
Chelsea Flower Show.
www.hilcouk.com
Not resting on their laurels,
Oceans followed the win with
the fulfilment of a major order
for a new luxury hotel within
the historic Brooklands motor
racing circuit in Weybridge,
Surrey. The Brooklands Hotel, located next to the
spectacular Mercedes-Benz World attraction, uses
Oceans’ products exclusively for its outdoor, terrace,
spa and balcony furniture.
Two new starters
join the Hilco UK
team
All of us at Hilco are delighted to
welcome two new employees to
the team.
Ben Hynes joins the investment
team as an Investment Analyst,
bringing more than six years’
experience in corporate recovery
and restructuring gained at a
leading independent restructuring
and corporate advisory practice
in Sydney. During this time,
Ben worked on some of the
most prominent Australian and
cross border turnaround and
restructuring engagements in
sectors including financial services,
medical devices, shipping,
telecommunications, engineering,
retail and property.
Also joining Hilco UK’s investment
team as an Investment Analyst,
Matt Holt is a qualified chartered
accountant and trained with a
leading independent international
advisory and restructuring practice.
During his five years’ experience
in the corporate recovery and
restructuring arena, Matt has
worked on a number of high profile
assignments in the retail, leisure,
manufacturing, automotive and
property sectors.
Ben and Matt join Hilco UK
at an extremely busy period
in the company’s growth and
their support with both existing
investments and new transactions
is set to be invaluable to the entire
Hilco team.
Hilco Newsletter Q2 2011 3
Newsletter
Twice2much Africa on track MIG wins DFS contract
objective of the project is to enable
DFS to develop its relationship with
both historical and potential new
customers.
in South Africa with recent new
business wins including a recovery
audit for leading premium tyre
brand Continental.
Twice2much continues to break
new ground as a market leader
Twice2much also signed up IT
distributor Tarsus Technologies
and branded personal computer
manufacturer Mustek.
DFS, the UK’s biggest furniture
manufacturer and retailer, has
appointed the Marketing Innovation
Group to implement a pilot datadriven marketing strategy. The
MIG will utilise the DFS customer
database to deliver a number of
direct marketing initiatives across a
variety of channels.
NEWS FROM ACROSS THE POND
are antibiotic and growth hormone free, and
are raised humanely and sustainably through a
network of family-owned farms across the US.
Hilco Equity Partners
recently sold Natural Food Holdings
(NFH) to the private equity group, LNK Partners.
The NFH business included the Niman Ranch
brand, a leading producer and marketer of
all-natural fresh and prepared meat products
– primarily fresh pork, beef, and lamb – that
In addition, NFH sold the Sioux-Preme
Packing Company, a custom pork
processing business based in Sioux City,
Iowa – ‘the heart of hog country’.
Hilco Industrial has just completed the auction
sale of the 1.2 million square foot former Chrysler
Detroit Axle Plant. The plant, which was built in
1917 and purchased by Chrysler in 1928, once
employed nearly 2,000 people who produced
Winner’s Jersey for Clipper
four Bavaria boats.
Clipper Marine completed a
successful Jersey Boat Show in
May with the sale of no less than
Bavaria combines high quality
German engineering with
collaborative expertise from
renowned design house Farr Yacht
Design and BMW Designworks
USA to produce stunning 32 to 55
foot cruising yachts.
rear axles for Chrysler vehicles. The auction
sale generated US $25 million, 39% over
midpoint projections. Auction participants on
site and via webcast were from countries
around the globe, including China, India,
Turkey and the US.
Hilco Industrial will conduct a similar auction
at Chrysler’s 1.8 million square foot Kenosha
Engine plant in Wisconsin. Both plants are
part of Old Carco Liquidating Trust, the
entity that assumed possession of assets
shed by Chrysler as part of its bankruptcy
restructuring.
Contact Directory
Burleigh
www.burleigh.co.uk
01782 577866
Clipper Marine
www.clippermarine.co.uk
020 7054 7880
Denby
www.denby.co.uk
01773 740 899
Hilco UK
www.hilcouk.com
Hilco Deutschland www.hilcodeutschland.com
HFS
020 7317 2050
+49 211 5403 9627
www.homeflooringsolutions.co.uk 01689 895 895
MIG
www.m-i-g.com
01565 653 000
Oceans
www.oceansint.com
0845 519 7686
Park
www.parkltd.co.uk
01305 778 420
Poole Pottery
www.poolepottery.co.uk
01782 525 422
Twice2much
www.twice2much.com
0844 225 2090
Published by Hilco UK Limited, 80 New Bond Street, London W1S 1SB · Tel (0)207 317 2050 · Fax (0)207 317 2051 · © 2011 Hilco UK Limited · All rights reserved
4 Hilco Newsletter Q2 2011
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