Matrix backs Equip's acquisition of Lowe Alpine

Matrix's investment is part of a £20m funding package backed by Santander. The investor will take a minority stake in the company.

Lowe Alpine was founded in the US before it was sold to an Italian parent company in 2003. It filed for bankruptcy in 2010 and has up until now been in the hands of an Italian administrator.

Company
Equip is a specialist in the design and marketing of technical outdoor equipment. It includes brands such as RAB and is based in Alfreton, Derbyshire. Equip was founded 30 years ago and its product range includes technical waterproof and down clothing as well as sleeping bags for extreme environments. In recent years, the company has expanded its export markets into Europe, the Far East and North America.

Lowe and Equip together employ about 90 people and are expected to generate an annual turnover of about £30m in 2012.

People
Ashley Broomberg, Jonathan Gregory and Chris Price worked on the transaction for Matrix Private Equity.

Advisers
Equity - Harvey Ingram, Heidi Hendon (Legal); Tenon, Julian Clough (Financial due diligence); Pragma Consulting, Patrick Wodall (Commercial due diligence)
Company - Dains, Simon Bursell (Corporate finance); Gateley, Mark Rutherford (Legal)

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