Schoolwear company The Parently Group has expanded its offering by acquiring a specialist in footwear for children, with HURST Corporate Finance advising on the deal.
Parently has acquired Term Footwear, which was established in 2016 by Sharon and Lincoln New. The financial details of the transaction are undisclosed.
It is the first acquisition for Parently, a manufacturer of childrenswear which owns the David Luke school uniform brand, footwear and clothing brand Grass & Air and sportswear brand Juco.
The company is based at a three-acre site in Bredbury, Stockport, after moving from Manchester city centre last year.
Term, which is based in Poole, Dorset, has become a trusted brand for its shoes, which are designed with British children and the British weather in mind.
Its product range caters to different age groups and preferences, from primary school children to teenagers, with options such as single and double touch-fastening straps, lace-ups and smart designs.
The shoes are made from real leather sourced in New Zealand and South Africa as a by-product of open cattle farming, while the patent leathers are imported from Italy to ensure durability and a premium finish. Additionally, double-dyed leather means that scratches and scuffs are easy to re-polish.
Sharon and Lincoln New will continue to work with The Parently Group to assist with the transition and share their specialist knowledge and expertise with the team.
Kathryn Shuttleworth, chief executive of The Parently Group, said: “This move into school shoes comes at a time when the school uniform market is undergoing significant changes, driven by shifting ownership models and legislative uncertainties.
“In these times, diversification for wholesalers and retailers is essential. Expanding our offerings builds resistance and reduces risk as markets and products evolve.”
She added: “As a wholesale distributor with a wide retailer network, collaboration is in our DNA. Since our founders, David Burgess and Adrian Luke, started the business, we have remained committed to bringing products that have a strong story that resonates with retail customers.
“We are thrilled about Term Footwear becoming part of our group of brands and look forward to sharing the great opportunities that come from adding these excellent products to our retail portfolio.”
Danielle Tierney and Ben Bradley of HURST Corporate Finance advised Parently on the acquisition. Mark Winthorpe and Arshnoor Amershi, of Pannone Corporate, provided legal advice.
Danielle said: “It was a pleasure advising The Parently Group on the acquisition of Term Footwear. The brand is a great addition to its portfolio, which already includes well-known names such as David Luke, Juco, and Grass & Air.
“We’re excited to see how this first acquisition strengthens their position in the market and fuels further growth.”
HURST Corporate Finance focuses on advising owner-managed companies and entrepreneurs on acquisitions, sales, debt funding and private equity investments with transaction values of £5m-£30m.
