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Operating Businesses

Medium to long term high conviction strategic investments focused on building strong businesses, with H&G providing key value-added services including operational expertise, M&A and long-term value realisation strategies.

KEY INVESTMENTS

Mountcastle

Mountcastle, established in 1835, is a leading integrated uniform specialist with a focus on the school uniform market in Australia and New Zealand.

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H&G first acquired part of Mountcastle in 1997 and has since increased ownership to 100%. The School Uniform industry in Australia is estimated at A$1bn revenue p.a. and is highly fragmented. With the acquisition of LW Reid Pty Ltd in December 2019, Mountcastle became one of the largest industry players in ANZ.

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The H&G management team continues to assist Mountcastle in progressing strategic opportunities in industry consolidation, increased operational efficiencies, access to new markets, product innovation, diversified manufacturing capability, e-commerce platforms & access to cheaper equity & debt capital.

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Led by Steven Doyle (ex-Super Retail Group/Lovisa) Mountcastle continues to grow year on year, and based on the significant acquisition pipeline, aims to complete transformational M&A.

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KEY INVESTMENTS

Schoolblazer Limited

Schoolblazer Limited (SB) is the clear market leader in the supply of uniform and sportswear to UK independent fee-paying schools, with a deep commitment to sustainability and fair trade. Its team are online experts, focused on providing design and product innovation to its schools and delivering shopping convenience for their parents, with free name-taping and
Intelligent Sizing.

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Schoolblazer works with its schools to design bespoke, signature uniform (Schoolblazer) and high-performance sportswear (Limitless) that represents the school’s ethos and brand and which pupils are proud to wear. By summer 2024, the Company had grown to support >230 schools, covering c.30% of its target market of UK independent schools with over 300 pupils.

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KEY INVESTMENTS

Argyle Schoolwear

Acquired in 2023, Argyle Schoolwear is the leading provider of school uniform solutions in New Zealand, supplying to more than 300 schools throughout the country. The company sells uniforms on a wholesale basis to school uniform shops via its Argyle Direct website, to parents via its ArgyleOnLine (AOL) platform, and via retail stores outside of the school. 

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The school uniform industry in Australia is estimated at A$1bn+ revenue p.a. and is highly fragmented. Mountcastle is optimally positioned to increase the scale of the business through accretive acquisitions, leveraging its best-in-class design, supply chain and IT infrastructure.

Hancock & Gore Limited

Level 11, Suite 11.02, 68 Pitt Street, Sydney, NSW 2000

+61 412 308 263

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