Charme acquires majority stake in JD Classics

The deal marks Charme’s first UK investment and the second deal completed by its third fund, which held a first close on €450m in January 2015. The Milan-based GP launched its London office the following November.

Investment firms FiveW Capital and DeCar Partners, which focuses specifically on luxury and collectibles investments, have taken a minority stake as part of the deal.

Under its new ownership model, the company will undertake an acquisitive international expansion strategy with a particular focus on Europe, the US, Asia and the Middle East. It will also look to expand its management team.

Following the deal, which was sourced via an off-market process, the company’s founder Derek Hood will reinvest for a 40% stake, according to a source close to the situation.

In June 2016, Charme’s third fund made its maiden investment, acquiring a majority stake in Spanish biotech Igenomix.

Company
Founded in the 1980s and headquartered in Maldon, Essex, JD restores and sells classic cars for racing and general use. The company has a headcount of 60 with an additional showroom in Mayfair, London. It is understood the company’s revenues have grown by 30% year-on-year since 2014.

People
Charme Capital Partners – Christopher Fielding (partner)
JD Classics – Derek Hood (founder, CEO).

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