Britain's Oliver Sweeney receives £3.75m investment

By

Cajsa Lykke Carlson

Published
Mar 9, 2015

Independent company the British Growth Fund, which was set up to help the UK's growing businesses, has invested £3.75m in menswear label Oliver Sweeney. BGF has also taken a minority stake in the company.

The growth capital will be used to implement a new marketing strategy and introduce Licensing as a principal channel. Oliver Sweeney is owned by Maurice Helfgott and Amery Capital, and has six standalone retail stores in the UK and an online operation. The company employs 60 staff.

As part of the investment, Investment Director Alistair Brew joins the Oliver Sweeney Board as Non-Executive Director, and Adam Leigh joins as Independent Non-Executive Director.

Brew stated: "Very thorough due diligence has been exercised throughout this investment, and we are keen to grow Oliver Sweeney’s profitability by introducing Licensing and then implementing a decisive shift in channel mix. We can support companies like this; by providing a financial boost and strengthening the balance sheet to realise strategic opportunities."

£1 = $1.51