YFM invests £2.5m in Ness

The fresh capital will be used to support the company's growth, which includes opening new stores and boosting its online presence.

The deal sees Dean Murray joining the company as chairperson. The company will also look to recruit a head of retail and a technology specialist.

Debt
The deal was supported with £1m of debt from existing lender Clydesdale Bank.

Company
Established in 1997, Ness is a clothing brand with a Scottish heritage twist. The retailer offers designed merchandise including bags, coats, jackets and blazers.

The company employs 10 people at its head office in Edinburgh and operates 11 stores. Ness generates turnover of £5m.

People
Adrienne MacAulay and Gordon MacAulay are the founders of Ness. Kenny Baillie is managing director of Ness. Charlie Robinson is investment director of YFM. Lucy Graham is senior director of Clydesdale.

Advisers
Equity – Osborne Clarke, Simon Jones, Matthew Lewis (Legal); Mazars, Julian Clough, Luke Yates, Julian Clough (Financial due diligence); Turous, John Dowell (IT due diligence); Stratton HR, Anna Cornwallis (Operational due diligence).

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• Topics
• Expansion
• UK / Ireland
• YFM Group