Phase Eight, the women’s wear retailer, has been sold by Barclays Private Equity, in a deal that values the company at £51.5m. Phase Eight has been acquired by an investor consortium comprising management, Kaupthing Principal Investments, the Tchenguiz Family Trust and experienced retail investors Michael Rahamim, Saj Shah and Ian Findlay. Phase Eight has developed an established presence both in department stores and on the high street under the current management team and now operates 56 high street stores and 92 concessions across the United Kingdom and Ireland. The company has carved a niche in the UK retail market, designing and retailing occasion-wear, smart daywear and accessories with a focus on high quality, original fabrics and finishing.
Merged company will have combined revenues of around €8m in 2020, and employ over 50 staff.
Digitalisation and project life cycle management business intends to expand in DACH and Benelux
Fund invests in pre-series-A and series-A rounds to support the growth of startups operating across a large variety of sectors
In conjunction with the announcement, the firm has hired an investment team from TenX Health