Member Article

Manchester office of Altium advises Singh family on £1.9bn sale of New Look

The Manchester office of investment bank Altium has advised the Singh Family Trusts on the £1.9bn sale of fashion retailer New Lookto South African private equity firm 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.

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.

CEO of Altium Capital, Phil Adams, 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”

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

Founder of New Look,Tom Singh, said: “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 Altium team and found their approach both constructive and commercial”

This was posted in Bdaily's Members' News section by Sophia Taha .