ISIS backs inov-8 with £12m

The private equity firm invested via its ISIS IV fund, which closed on £238.5m in 2008, exceeding its £200m target. ISIS closed the vehicle's successor, ISIS V, on £360m at the end of April.

The investment will underpin the company's expansion into new markets and finance product development.

Company
Based in County Durham and founded in 2003, Inoveight maufactures sportswear under the inov-8 brand of on- and off-road running and fitness products. The company sells its products in 58 countries, with a particular focus on the US, the UK and Europe.

The company has an international team of 44 and has added 17 new members of staff in the last year.

People
Mark Advani and James Titmuss led the transaction from ISIS's Manchester office. Advani and Adam Holloway will join Inoveight's board. Both previously held board seats at cycling e-tailer Wiggle, before the sale to Bridgepoint in 2011, which saw ISIS reap a 15x multiple.

Advisers
Company – Pinsent Masons, Peter Wood, Michael Walby, Andy Phillips (Legal); KPMG, Rod Wilkinson, Graham Pearce (Corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• UK / Ireland
• Consumer
• Expansion
• Now researching
• United Kingdom
• ISIS Equity Partners