M&A Deal Summary

Frasers Group Acquires Matchesfashion

On December 20, 2023, Frasers Group acquired e-commerce company Matchesfashion from Apax, Scottish Equity Partners and Highland Europe for 63M USD

Acquisition Highlights
  • This is Frasers Group’s 2nd transaction in the E-Commerce sector.
  • This is Frasers Group’s 4th largest (disclosed) transaction.
  • This is Frasers Group’s 11th transaction in the United Kingdom.

M&A Deal Summary

Date 2023-12-20
Target Matchesfashion
Sector E-Commerce
Buyer(s) Frasers Group
Sellers(s) Apax
Scottish Equity Partners
Highland Europe
Deal Type Add-on Acquisition
Deal Value 63M USD

Target

Matchesfashion

London, United Kingdom
Matchesfashion is a luxury online retailer, engaging with its customers online, in-store, via its app, and at its pioneering retail and broadcasting destination, 5 Carlos Place. It delivers to over 176 countries and offers 24/7 advice through its fashion concierge team MyStylist. Matchesfashion was founded in 1987 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Frasers Group

Shirebrook, United Kingdom

Category Company
Founded 1982
Sector Retail
Employees30,000
Revenue 5.6B GBP (2023)
DESCRIPTION

Frasers Group is a sports retailer with approximately 400 stores and provides an unrivalled range of products, offering exceptional quality and unbeatable value, from a wide variety of third-party and Group-owned brands, both in-store and online. Frasers Group was incorporated in 1982 and is based in Shirebrook, United Kingdom.


DEAL STATS #
Overall 16 of 16
Sector (E-Commerce) 2 of 2
Type (Add-on Acquisition) 10 of 10
Country (United Kingdom) 11 of 11
Year (2023) 2 of 2
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-30 Missguided

Stretford, United Kingdom

Missguided is a global fashion powerhouse formed with the purpose to empower all women by inspiring self-confidence in mind, body, and potential. Missguided was formed in 2009 and is based in Stretford, United Kingdom.

Sell -

Seller(S) 3

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 168 of 171
Sector (E-Commerce) 2 of 2
Type (Add-on Acquisition) 59 of 59
Country (United Kingdom) 24 of 24
Year (2023) 2 of 2
Size (of disclosed) 46 of 50
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-12 OCS

Brescia, Italy

OCS is a provider of proprietary software solutions for the retail finance market. OCS has supported the main Italian banks and specialized financial institutions, acting as a trusted technology partner for complex and innovative IT solutions for both consumer credit and asset finance. OCS was founded in 1984 and is based in Brescia, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-01 WGSN

London, United Kingdom

WGSN Ltd. is a provider of online subscription trend forecasting and related services to the fashion sector and design-led industries. WGSN was founded in 1998 and is based in London, United Kingdom.

Buy -
DESCRIPTION

Scottish Equity Partners is a growth capital firm focused on high-growth tech company invests in the UK and Ireland. The Firm looks to invest up to £25 million across a range of sectors, with a particular interest in enterprise software, consumer internet and tech-enabled service businesses. Scottish Equity seeks to build value by playing an active and supportive role in the growth and development of its portfolio companies. Scottish Equity Partners is based in London.


DEAL STATS #
Overall 17 of 19
Sector (E-Commerce) 4 of 4
Type (Add-on Acquisition) 9 of 10
Country (United Kingdom) 15 of 17
Year (2023) 3 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-05 Braincube

Issoire, France

Braincube is a manufacturing data software platform with specialist industrial applications, that helps manufacturers increase their profits using data insights to improve quality, productivity, and sustainability in their factories. Braincube is based in Issoire, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-06 Vital Energi

Blackburn, United Kingdom

Vital Energi installs and operates large-scale, centralized, clean energy centers for the commercial and public sectors. It provides a total solution from initial design to project implementation, operation, and maintenance across CHP boilers, fuel storage, thermal storage, pipes, and pumps. Vital Energi was established in 2000 and is based in Blackburn, United Kingdom.

Sell -
DESCRIPTION

Highland Europe is a growth capital investor focused on technology enabled companies addressing large market opportunities in internet, mobile and software. The Firm looks to commit €10 to €30 million in fast growth companies with at least €10 million in annual sales. The Firm will consider opportunities throughout Western Europe with global ambitions. Highland Europe was formed in 2012 and is headquartered in London.


DEAL STATS #
Overall 3 of 6
Sector (E-Commerce) 2 of 2
Type (Add-on Acquisition) 2 of 4
Country (United Kingdom) 3 of 4
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-02 Le Collectionist

Paris, France

Le Collectionist is the highest-rated luxury holiday brand in the world, creating extraordinary holidays for discerning travellers to share with their loved ones. Le Collectionist is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-31 WeTransfer

Amsterdam, Netherlands

WeTransfer is a provider of cloud based file transfer service. WeTransfer was founded in 2009 and is based in Amsterdam, Netherlands.

Sell -