The deal was backed by Piper Private Equity, which invested £8 million in Weird Fish, while an asset-based lending facility worth £5.5 million, encompassing accounts receivable, inventory and a cash-flow term loan, was provided by KBC Business Capital, a division of Belgian banking group KBC Bank.

Founded 15 years ago and based in Cheltenham, Weird Fish will use the extra funding to develop its clothing offer and expand its wholesale and direct sales. The buy-out was led by managing director, John Stockton.

Paul Hooper, sales director at KBC Business Capital, says: ‘From the moment we were introduced we could clearly see the potential for the MBO and why an asset-based lending debt structure would be an appropriate funding solution.’

George Adams, a partner at Piper Private Equity, comments: ‘We have built our relationship with Weird Fish over the past two years, in the belief that the business has enormous potential in a vibrant sector of the clothing market.’