Thu, 20 May 2010 | MBO/MBI
Clothing retailer Phase Eight is poised to change hands in a management buyout, which will be supported by Russian investors.
The womenswear retailer's chairman, Michael Rahamin, is leading the MBO; he has been an investor since 2007, when the private equity division of Icelandic bank Kaupthing purchased the chain for £51.5 million from Barclays Private Equity.
Phase Eight has 80 shops and 127 concessions in department stores including John Lewis and Debenhams. It is understood to be expanding into Switzerland, Scandinavia and Asia, and is setting up a buying office in China.
The firm posted a turnover figure of £59.2 million and profits of £4.4 million for the year to January 2009. Sales for the year to January 2010 are allegedly much higher, with particularly robust trading in the department stores.
Stakeholders are said to include Kaupthing Capital Partners with a 49 per cent holding, Jane Norman chief executive Saj Shah, Jane Norman deputy chief executive and finance director Ian Findley, as well as Kew Capital, who invest on behalf of Russian steel magnates Mr Abramov and Mr Frolov.
Phase Eight received numerous unsolicited approaches earlier on this year from private equity firms Lloyds Development Capital, Inflexion and Change Capital.
Represents an opportunity for an acquirer seeking a three surgery, predominantly private dentistry located in Pembrokeshire.
FREEHOLD
Predominately NHS dental surgery with scope for physical expansion, private growth and extended services.
FREEHOLD
Represents an opportunity for a dental practice acquirer seeking a seven surgery mixed dentistry operating since 1978.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.