Close Brothers GmbH advised the insolvency administrator Dr. Martin Prager on the sale of Bäumler to the investor consortium Berwin & Berwin and Jason Gerrard

Frankfurt/Main, 14 December 2009

Close Brothers GmbH advised Dr. Martin Prager of PLUTA Rechstanwalts GmbH on the sale of the operational business of the Bäumler brand to the British suit specialist Berwin & Berwin and Bäumler’s British agent Jason Gerrard.

The company Bäumler, headquartered in Ingolstadt, Bavaria, is one of the leading European menswear brands with a tradition-rich history reaching back over 80 years. The Bäumler brand is a market leader in quality men’s suits and enjoys a high degree of recognition. Bäumler was, for instance, the official outfitter of the German men’s Olympic team in 2008. The acquisition marks for Berwin & Berwin a further strategic step towards strengthen its European menswear business. “Bäumler is a leading European brand in high quality menswear, offering excellent value for money and a strong reputation, especially in the UK. In the future we see the brand becoming more active again in the classic, rather than the lifestyle area”, commented Simon Berwin, shareholder of Berwin & Berwin Group, on the transaction. “We are pleased that we can ensure continuity for the traditional Bäumler brand”, explained Dr. Martin Prager. „The investor consortium Berwin & Berwin and Jason Gerrard make perfect partners for the Bäumler brand“.

For the new start of the business in Munich, a core team of Bäumler experts will be employed. Through the close interlinking with subcontractors, particularly in Eastern Europe, the transaction and rescue plan will secure more than 600 jobs. Close Brothers GmbH acted as exclusive financial adviser to Dr. Martin Prager. The purchase price has not been disclosed.

Background information on the investor consortium Berwin & Berwin and Jason Gerrard

The traditional company Berwin & Berwin, with its headquarters in Leeds, UK, was founded in 1885 and has been run by the same family for four generations. The company has production sites in Hungary and China, producing up to 16,000 suits a week and also has sales offices in London, Leeds and Budapest, making it one of the leading suit manufacturers in Europe. Jason Gerrard was the British agent for Bäumler for more than 20 years and is a connoisseur of the European menswear scene.
www. berwinberwin.co.uk

Background information on PLUTA Rechtsanwalts GmbH

With more than 240 new company insolvencies in 2008 and 30 insolvency administrators in a total of 24 offices in Germany, Italy and Spain, PLUTA ranks in the top flight of German insolvency administration firms.
www.pluta.net

Background information on Close Brothers GmbH

Close Brothers GmbH with offices in Frankfurt, Zurich and Warsaw is part of Close Brothers Corporate Finance, a leading, independent corporate finance house. Headquartered in London, it has a strong regional and European presence, employing more than 250 professionals across offices in the UK, France, Spain, Germany, Switzerland and Poland. Close Brothers Corporate Finance offers advice in mergers and acquisitions, restructuring, debt and equity raising, as well as dedicated advice to the Private Equity industry. As a subsidiary of Daiwa Securities SMBC Europe Limited, Close Brothers Corporate Finance also has access to a global network of relationships in the Japanese investment bank's existing markets. This includes Japan, Asia (China, Hong Kong, Singapore, India and other countries), Russia, Bahrain, Dubai and other Gulf territories as well as into the US through Sagent Advisors, an alliance partner of Daiwa Securities SMBC Co. Ltd. From 1 January 2010 Daiwa Securities SMBC will be a 100% subsidiary of Daiwa Securities Group. The new company name will then be Daiwa Capital Markets.
www.closebrothers.de,  www.closebrothers.ch, and www.closebrothers.pl