Global investment firm The Carlyle Group today announces its agreement to acquire a majority stake in luxury, streetwear and sportswear retailer END. The stake is being acquired from founders Christiaan Ashworth and John Parker, who will retain a significant minority stake and remain co-chief executive officers of the company headquartered in Newcastle, UK.
Index Ventures, which currently hold a minority stake, will fully exit. The transaction will close on April 1, a press release from The Carlyle Group said.Global investment firm The Carlyle Group today announces its agreement to acquire a majority stake in luxury, streetwear and sportswear retailer END. The stake is being acquired from founders Christiaan Ashworth and John Parker, who will retain a significant minority stake and remain co-chief executive officers of the company headquartered in Newcastle, UK.#
END. partners with more than 500 designers and brands, and its omni-channel offering includes an online platform, mobile apps and brick-and-mortar stores. It employs more than 650 people in the United Kingdom and ships to over 100 countries.
The Carlyle Group will support END.’s expansion, both within the domestic market as well as globally. Equity for the investment will be provided by Carlyle Europe Partners (CEP) V, a €6.4-billion fund investing in European opportunities across a range of sectors and industries, and an affiliate of Carlyle Asia Partners (CAP) V, a $6.6-billion fund focused on buyout and strategic investments across a range of sectors in the Asia-Pacific region.
The investment in END. builds on Carlyle’s long-term global focus on consumer, a sector in which the firm has invested over $20 billion to date.
Fibre2Fashion News Desk (DS)