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ISIS buys minority stake in Crew Clothing Co.

ISIS Equity Partners has acquired a 25 percent stake in Crew Clothing Co in a £7.75 million fund raising, building on its investment in Wiggle, an on-line retailer of outdoor accessories.

ISIS Equity Partners has acquired a 25 percent stake in outdoor clothing retailer Crew Clothing Co., in a £7.75 million (€12 million; $15 million) fund raising. 

Crew Clothing Co: outdoor apparel

ISIS’s investment follows a review of Crew Clothing Co. by Argyll Partners, a retail and consumer products consultancy, on strategic options for the company and its founder.

Wragge & Co gave legal advice to ISIS.  Lloyds TSB Corporate provided the debt facilities.

Alastair Parker-Swift founded Crew Clothing Co. as a single retail site in 1993.  It currently makes EBITDA of £1.8 million on sales of £13.5 million from 34 retail outlets.

Last month Altor, a Nordic buyout firm, agreed to buy Helly Hensen, a supplier of technical clothing and footwear, from Investcorp, a Bahrain-based merchant bank.

ISIS Equity Partners has £525 million funds under management and a target deal size of between £5 million and £75 million.