M&A Deal Summary

Lloyds TSB Development Capital Acquires Mountain Warehouse

On August 13, 2010, private equity firm Lloyds TSB Development Capital acquired apparel/textiles company Mountain Warehouse from Arev for 50M GBP

Acquisition Highlights
  • This is Lloyds TSB Development Capital’s 3rd transaction in the Apparel/Textiles sector.
  • This is Lloyds TSB Development Capital’s 25th largest (disclosed) transaction.
  • This is Lloyds TSB Development Capital’s 90th transaction in the United Kingdom.
Investment Fate
  • Mountain Warehouse was sold to a strategic buyer in 2013 for 85M GBP.
  • Mountain Warehouse was sold to a financial buyer in 2018.

M&A Deal Summary

Date 2010-08-13
Target Mountain Warehouse
Sector Apparel/Textiles
Buyer(s) Lloyds TSB Development Capital
Sellers(s) Arev
Deal Type Secondary Buyout
Deal Value 50M GBP
Advisor(s) Geldards (Legal)

Target

Mountain Warehouse

London, United Kingdom
website
Mountain Warehouse operates retail stores that offer outdoor clothing, footwear, and accessories for men, women, and kids. Mountain Warehouse was founded in 1997 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Lloyds TSB Development Capital

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 2.0B USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Lloyds TSB Development Capital Ltd (LDC) is the private equity arm of Lloyds Banking Group Plc and invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. Lloyds TSB Development Capital Ltd was formed in 1981 and is based in London.


DEAL STATS #
Overall 95 of 292
Sector (Apparel/Textiles) 3 of 4
Type (Secondary Buyout) 11 of 56
Country (United Kingdom) 90 of 282
Year (2010) 7 of 9
Size (of disclosed) 25 of 69
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-24 AIM Altitude

Dorset, United Kingdom

AIM Altitude is dedicated to the design and manufacture of precision made lightweight interiors for the aerospace industry. AIM Aviation designs, engineers and manufactures cabin interiors for the world’s major airlines on Airbus, Boeing and military aircraft, from its base in the UK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-25 Vision Security Group

Northampton, United Kingdom

VSG is one of the premier suppliers of Manned Guarding, Electronic Security and Support Services to blue chip clients across the UK.

Sell £64M

Seller(S) 1

SELLER

Arev

London, United Kingdom

website


Category Private Equity Firm
Size Small
Type Sector Focused
DESCRIPTION

Arev is a private investment firm focused on investment opportunities in the retail sector. Arev is based in London.


DEAL STATS #
Overall 1 of 1
Sector (Apparel/Textiles) 1 of 1
Type (Secondary Buyout) 1 of 1
Country (United Kingdom) 1 of 1
Year (2010) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-12 Mountain Warehouse

London, United Kingdom

Mountain Warehouse operates retail stores that offer outdoor clothing, footwear, and accessories for men, women, and kids. Mountain Warehouse was founded in 1997 and is based in London, United Kingdom.

Buy £15M