Transaction Details

May 18, 2015
London, Zurich

Sector

Consumer, Retail, E-commerce and Leisure

Deal Type

M&A

Deal Value

£1.9 bn

Deal Team

Phil Adams, Sam Fuller, Madeleine Jahr, Oliver Vaughan, Alex Smith

GCA Altium has advised the Singh Family Trusts on the £1.9 billion agreed sale of New Look to Brait

GCA Altium has advised the Singh Family Trusts on the £1.9 billion agreed sale of New Look to Brait. Brait has acquired a 90% stake in the business primarily from funds advised by Apax and Permira while the Singh Family Trusts and management will own the remaining 10% of the business. Brait is a leading South African investment group which recently acquired Virgin Active.

Key investment highlights:

  • Double digit EBITDA growth in recent years
  • Leading UK market value share
  • Strong growth prospects in France, Germany, Poland and especially China
  • Strong brand awareness
  • Well-developed multi-channel offering via traditional stores and a fast-growing eCommerce platform

New Look is the leading fast fashion retailer in the UK for the under 35s with more than 800 stores worldwide. Tom Singh founded the business in 1969 before floating it in 1998 and taking it private in 2004 with the backing of Apax and Permira.

Phil Adams, CEO of GCA Altium, said: “It has been a pleasure to work with Tom Singh and his family office on this deal. Tom has overseen the hugely successful growth of New Look since inception and is delighted to be retaining an ongoing interest and role in the Company.”

Madeleine Jahr, Head of GCA Altium’s Family Office Practice, commented: “This deal represents a landmark transaction on which GCA Altium was delighted to support a great entrepreneur through combined M&A and Family Office expertise.”

Tom Singh, Founder of New Look, added: “I am delighted that this transaction has been successfully concluded and look forward to playing a part in New Look’s continued success. We very much enjoyed working with the GCA Altium team and found their approach both constructive and commercial.”

This is the latest in a series of significant transactions advised on by GCA Altium in the consumer space which includes the sale of Prezzo to TPG, the sale of sofa.com to CBPE and the sale of Ulysse Nardin to Kering.

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