L Capital and LDC show interest in Joules

Last month, Graphite Capital was reported to be one of the GPs circling the business, but has apparently now dropped out of the running.

The fashion company reportedly hired Rothschild last November to find it a suitable investor. Founder and CEO Tom Joule, who is the company's biggest shareholder, is thought to be considering selling a majority stake in the business.

L Capital was created in 2001 with backing from LVMH and Groupe Arnault. It is headquartered in Paris and typically invests €15-60m in companies with annual revenues of €30-400m.

Joules is reportedly worth an estimated £49m. Last year the 30-year-old business recorded a pre-tax profit of £1.2m but is expecting an underlying profit of £7m this financial year.

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• LDC