Bollin Group sells fashion division
Leicester-based Bollin Group has sold its country fashion label subsidiary John Partridge. Three North East-based entrepreneurs have bought the business, and plan to set up new headquarters in Northumberland.
David Reay and Gary Newbold, both former bosses at Barbour, and retail entrepreneur Nick Oliver, have bought the company.
Bollin Group owns subsidiaries including camping brand Aztec, Hilly Clothing and Sprayway.
The deal, for an undisclosed sum, is part-financed by the Growth Plus Fund, part of Finance for Business North East managed by FW Capital, as well as a personal investment from business angel Anne Holliday.
The team raised the finance with help from business advisors unw and were also assisted by Newcastle law firm Muckle LLP.
FW Capital fund manager Andrew Coles said: “Partridge’s new owners are a strong management team with an impressive reputation in the sector. They’re well placed to make the most of this very exciting opportunity. Combining their expertise with this substantial equity investment, I’m confident they’ll reinvigorate this highly regarded brand.”
