Leading commercial law firm Bond Dickinson, which has an office in Newcastle, has advised long-standing client Piper Private Equity on an £8m investment in a designer swimwear and resort wear company.
Corporate finance partner Simon Hewes led the legal team on discussions over the investment in the Orlebar Brown Ltd brand, which was set up in 2007 and now distributes to 38 countries, stocking high-end shops such as Harrods and Selfridges in the UK and Bergdorf Goodman, Barneys and Jeffrey in the US.
It also has three of its own standalone shops and sells online to 105 countries.
Piper is a specialist private equity firm focused on investments in consumer brands with strong growth potential in retail, leisure, consumer products and consumer services.
The latest investment of growth capital will give it a significant minority stake in Orlebar Brown, and allow the swimwear company to expand its presence in the US and Europe, while investing further in online marketing.
“We were delighted to advise Piper on another investment, just six weeks after closing its ï¿½6m investment in Turtle Bay,” Hewes said.
“Orlebar Brown is an entrepreneurial company with a great brand and ambitious plans for international growth.
“We have previously acted for Piper on investments including Bottlegreen, Weird Fish, Loungers, Celtic Sheepskin and Turtle Bay, and we look forward to advising them on future investments.”
Piper is just one of many renowned clients working with Bond Dickinson, which provides regulatory, corporate, commercial, real estate and dispute resolution services to top corporate and public sector organisations.
Partner at Piper, Peter Kemp-Welch, said: “We have followed the success of Orlebar Brown from a very early stage, and can see that the brand has developed a strong handwriting which appeals to a wide range of men across the world.
“We can see myriad growth opportunities for Orlebar Brown, especially the potential to expand its clothing range to satisfy demand for a broader product offering, as well as the chance to grow the US business which already represents nearly 30% of sales.”
Founder of Orlebar Brown, Adam Brown, said: “We are very excited about the partnership we have with Piper.
“I am delighted to be working with partners who share the same values and ambitions as ourselves, and the team’s extensive experience and knowledge of growing consumer brands will help us accelerate our growth and simultaneously protect our DNA.
“Piper has worked hard to complete the deal in six weeks, so that the business wasn’t distracted at its key selling time, and is committed to building Orlebar Brown into a globally recognised British luxury fashion business.”