The deal supports Equip’s acquisition of the Lowe Alpine clothing and rucksack brand, which sees it return to British ownership.

Ashley Broomberg, partner at Matrix Private Equity Partners, comments: ‘From our first meeting with Matt Gowar we recognised that this was a very high quality business and a leading entrepreneurial talent.

‘Our combined debt and equity offering enabled us to provide a compelling solution to the company’s funding requirements and facilitate this very exciting acquisition.’

Led by Patrick Woodall, Pragma provided commercial due diligence for the deal, which involved understanding the market for Equip products and included a full profile of the RAB and Lowe Alpine customers and brand propositions.

Additionally, Pragma produced an assessment of the potential for Lowe Alpine to relaunch a clothing brand into the outdoor market, and a valuation of the business plan.