Bridgepoint acquires shares in Séraphine

The GP confirmed to unquote" that the deal was closed last month, but did not disclose financial details related to the transaction.

The size of the stake has been reported to be 68%, with the remaining shares held by Cecile Reinaud, founder and head designer of Séraphine, according to French daily Le Figaro. The newspaper also reported the value of the business at £22m (10x EBITDA).

Launched in 2016, Bridgepoint Growth is the GP's lower-mid-market fund. It closed on £86m in May 2017. The fund is understood to be seeking to invest in UK equity investments up to £15m in consumer, media and technology companies. Investors in the fund include the Ohio State University Endowment, State Teachers Retirement System of Ohio and Hermes GPE.

Company
Founded in 2002, Séraphine is headquartered in London and generates two thirds of its sales from exports, selling maternity clothes in 30 countries. It launched an e-commerce platform in 2006 and has websites in the UK, France, Spain and the US. The fashion label operates stores in London, Leeds, New York, Paris, Dubai and Hong Kong and reported annual revenues of £17m in 2016.

People
Séraphine – Cecile Reinaud (founder).
Bridgepoint – Duncan Calam (partner).

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