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.
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.
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.
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