James Cowper Kreston advises on successful disposal of post-surgery wear business

Oxford-based James Cowper Kreston Corporate Finance has advised the shareholder’s of Nicola Jane, the UK's leading mastectomy and post-surgery wear specialists, on its disposal to family-owned investment company The Milbank Group.

Stewart Lambert and Dylan Polley led the team from James Cowper Kreston Corporate Finance which advised on the deal.

Established in 1984, Nicola Jane’s mission has been to restore confidence and femininity after breast surgery following a breast cancer diagnosis, selling pocketed mastectomy bras, swimwear and breast forms.

Peter Lawrence, founder and managing director of Nicola Jane, said: “I would like to thank the team at James Cowper Kreston, Dylan Polley and Stewart Lambert for helping me through the entire sales process. I have never been involved in a business sale before and I certainly needed professional advice and hand holding through the transaction.

They assisted through the preparation stage and then found a number of buyers I didn’t know existed. They handled the negotiations and assisted greatly during due diligence, which is not to be taken lightly.

"I think we found the right people to take over the business, look after the staff and care for the customers.”

Over the past 36 years Nicola Jane has grown significantly. From its operational base in the South of England, it has established a strong mail order business selling directly to customers across the world. Alongside, Nicola Jane offers a specialised bra-fitting service from breast care specialists posted around the UK. The fitting clinics include bra and breast form fittings, as well as a chance for customers to try on items from the range and to discuss personal requirements. In more recent years the demand for the Nicola Jane brand has seen trade sales increase across the world including customers in Hong Kong, Israel, USA and Spain.

Improving sustainability is one of the Milbank Group’s core values and this is well reflected within the Nicola Jane ethos. They are committed to the improvement of waste-reduction and focus their strategy around 3 areas: their products, their suppliers and their HQ/retail shop. Current achievements see 20 per cent of their bras and swimwear manufactured from ‘end of line’ fabrics, usually destined for landfill, products supplied in recyclable PEVA plastic bags, and plastic cradles used to hold silicone breast forms manufactured using 100% recyclable polystyrene.

James Cowper Kreston's Stewart Lambert, said: “We are delighted to have assisted Peter on the disposal of Nicola Jane to The Milbank Group. Peter has built up a fantastic company which has a great ethos and the business demonstrated its resilience and robustness by continuing to trade strongly through COVID.  Congratulations to all involved.”