Models 1, which represents models such as Agyness Deyn and Yasmin Le Bon, has sold a ‘strategic equity stake’ to a US private equity house.

Models 1, which represents models such as Agyness Deyn and Yasmin Le Bon, has sold a ‘strategic equity stake’ to a US private equity house.

Beverly Hills-based OpenGate Capital was introduced to the company by corporate finance firm Cavendish. The firm’s founder Andrew Nikou had been looking to acquire businesses in the talent and celebrity management space, while some of the shareholders in Model 1 were looking to sell their holdings in the company.

Raymond Fagan, a partner at Cavendish, says, ‘Closing such a unique transaction, especially in the current market, is immensely satisfying, and shows that good deals can still get done.’

London-based Models 1 works with around 1,200 clients per year, including haute couture, high street retailers such as M&S, and TV and media agencies. In addition to finding new talent, it represents ‘classic’ models such as Twiggy and Joanna Lumley.