London-based Fenn Wright Manson produces a range of women’s clothing and accessories and has 12 stores and 61 department store concessions across the UK. Established in 1974, the company currently employs 400 staff.
Darwin is backing the existing management team who have all reinvested in the business, and has announced plans to develop the company by opening additional stores.
Under the terms of the deal, managing director Colin Fenn, who is also one of the company’s founders, has stepped down from the board. Louise Barnes and Sheila Wye have been appointed by Darwin as executive chairman and finance director respectively.
Formed in 2007, Darwin invests in UK-based businesses worth up to £100 million. The deal is Darwin’s fourth transaction and follows the acquisition of the baby food business Plum Baby for £10 million in May this year.