UK private equity firm LDC has exited its investment in specialist outdoor retailer Mountain Warehouse for a return of more than two times.
LDC acquired a significant minority stake in August 2010 as part of a £47m buyout and has now exited its investment via the £85m management buyout of Mountain.
Since 2010, the company has seen its revenues rise to £75.6m from £47.5m as it opened 60 new stores.
LDC investment director Bertie Aykroyd said, “(CEO Mark Neale) and his team have delivered a strong performance in some of the most difficult conditions the retail sector has seen for many years.
“Thanks to a clear strategy, a highly capable team and a strong proposition, they’ve taken the business to the next level where it can now continue to grow and develop.”
LDC has invested more than £350m in 18 new businesses.
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