BGF leads £3.5m injection into Moda in Pelle

Following the deal, Moda in Pelle will add to its management team, invest in its e-commerce platforms and open new stores both internationally and within the UK. It will also launch a brand refresh in Q4 2015.

David Inglis, formerly part of senior management teams at Asda and Shop Direct, has been appointed chief executive of the company as a result of the transaction. Inglis also took part in the round.

Lloyds Bank has provided Moda in Pelle with an increased facility in accordance with its growth strategy.

BGF stated it was attracted to the company by its management team's knowledge of the retail sector and its growth strategy.

Company
Leeds-headquartered Moda in Pelle, founded in 1975, is a designer and retailer of women's footwear. The company has 60 stores across the UK with an anticipated turnover of £20m for 2014.

People
BGF investment director Richard Taylor, who will take a seat on the Moda in Pelle board, led the deal for the GP alongside Chris Boyes and Andy Gregory. Stephen Buck is the founder of Moda in Pelle and, along with Claire Buck, holds a majority stake in the company. David Inglis is chief executive of Moda in Pelle.

Advisers
Equity – Pinsent Mason (Legal); PwC (Tax).
Company – Sentio (Corporate finance); Addleshaw Goddard (Legal); Freeths (Tax).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• BGF (Business Growth Fund)