Metric acquires Danish lingerie chain
Metric Capital Partners (MCP) has bought a qualified minority stake in Copenhagen-based retail firm Change of Scandinavia, in a deal that values the business at around €70m.
The private equity firm invested through a credit instrument with equity attached. The investment was made via MCP's maiden fund MCP Private Capital Fund I, which reached a €300m final close in April this year.
MCP, founded by former executives of PE firms TowerBrook and Terra Firma, is expected to start fundraising for its second fund within the next year. It was founded in May 2011 and is based in London.
MCP typically provides debt and equity to small and mid-market businesses. The firm recently invested in Domia Group, operating under Acadomia, a provider of supplementary education in France. The deal was preceded by investments in Áras Sláinte and Global Diagnostics in December 2012, LM Funerals in April 2012, The Vincent Hotel Group in September 2012 and Kedleston in September 2012.
Company
Lingerie and swimwear retailer Change was the centre of scandal two years ago when it came to light that employees complained they had to have their bra sizes written on their name tags. Since then, employees are to decide individually if they want to make their bra size public.
People
John Sinik is the co-founder and managing partner of MCP. Giovanni Miele is also co-founder and managing partner of MCP. David Harris is MCP's CFO.
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater