Livingbridge sells Crew Clothing to Exquisite Apparel

It is understood the business faced challenges related to the global financial crisis, though it is now EBITDA-positive. The business generated a turnover of £58.3m in the year ending in October 2016, with EBITDA of £2.9m, according to publicly available documents.

Since the GP's investment, the company has focused on developing its online presence, updating its product range and renovating its stores.

Crew CEO Louise Barnes, who was appointed in 2014, has left the business following the deal, according to trade publication Retail Week, as has chief finance officer Stuart Owens.

A spokesperson for Livingbridge declined to comment on the deal value or returns generated from the sale.

Previous funding
Livingbridge invested £3.75m of equity to acquire a 25% stake in Crew in November 2006, according to unquote" data.

Company
Founded in 1993, London-headquartered Crew is a unisex clothing retailer. The business operates around 80 bricks-and-mortar stores and an e-commerce channel.

People
Livingbridge – Bevan Duncan (investment director).

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