Exponent buys handbag company

Exponent Private Equity has acquired ladies handbag brand Radley in a secondary buy-out from Phoenix Equity Partners.


Exponent Private Equity has acquired ladies handbag brand Radley in a secondary buy-out from Phoenix Equity Partners.

Exponent Private Equity has acquired ladies handbag brand Radley in a secondary buy-out from Phoenix Equity Partners.
The deal, which values the company at £130 million, bags Phoenix £64 million – a multiple of 3.8 times its original investment of £16.8 million. However, Phoenix has ploughed £15 million back into the new deal.

Pragma acted for Exponent in the deal, undertaking commercial due diligence on the brand and women’s handbag-buying habits. Managing director Monica Lucas said: “Radley is an exceptional brand, with high levels of awareness in a relatively unbranded sector. It has wide appeal across ages and end-uses and has attracted a loyal following.”

Radley bags are sold in department stores and in more than 500 independent outlets. Lowell Harder, who retains a minority stake, started selling bags on Camden market.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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