When the venture capitalists behind corporate wear company Prima decided to divest the business, there was no shortage of suitors, the firm reports.
After a nine month process, corporate wear giant Alexandra plc came out victors in a £4m deal, completed in April this year. For Prima managing director Nick Atkinson and his team, the synergies between the two businesses counted for as much as the price tag Alexandra paid. Unusually in such acquisitions, the whole Prima senior management team has stayed in place. Customers include the security and transport industries.
What they say
First Security’s Glenn Swaby says: "We are already seeing the benefits of Prima being part of the Alexandra Group through the huge selection of stock supported products being available over and above our standard uniform, with the service continuing to be as high as ever." Danny Keen of Mitie Security says: "We now have the best of both worlds that includes the excellent Prima service and a huge product range that suits all of our requirements, which literally gives us a one stop shop."
Nick Atkinson says: "Being part of the Alexandra Group is a very exciting development for Prima with our being able to link in to their extensive infrastructure covering design, product development, powerful IT system and product range which offers enormous opportunities for us and our customers. It is now three months since we were bought by Alexandra and the usual concerns that follow any takeover have well and truly dissipated as our customers have seen that the usual high degree of service and attention to detail has been maintained. Additionally, we are able to offer greater benefits such as our ability to now provide a broader range of stock backed uniform wear including leisure, work and footwear which have now enhanced our appeal to a wider group of customers. The security industry will remain one of our key sectors where we are aiming for further aggressive growth reinforcing our position as the industry’s leading supplier."
So what does the future hold for Prima? The Prima brand is here to stay, the firm says, particularly in the security and transport sectors. Customers will benefit, it is claimed, from the combined buying power of both organisations, while the size and financial strength of Alexandra Group will enable Prima to grow faster than it could alone, within and beyond its current core markets. The firm adds that turnover for this financial year will be almost £7m, which will be almost 10pc ahead of last year.
In the security sector staff uniforms are often branded under the security firm’s client’s name. Prima points to its ability to draw upon designers to interpret customer requirements. The designers research work environments and assess the performance that firms want from their garments. Care details are provided in a form that the wearer can understand and apply. Trials and surveys can be conducted which allow wearer participation and acceptance, the supplier adds.
