Established in 1980 offers a range of womenswear, menswear and childrenswear, alongside accessories and homeware.
With current annual turnover approaching £90m, the company outilises direct and wholesale channels alongside itsown retail stores, which now total over 60.
Joules has experienced “growth in recent years having grown its UK retail and wholesale presence, expanded its E-Commerce offering and continued the development of overseas markets, particularly in the US, Germany and Asia.
The business will continue to be led by CEO and founder, Tom Joule, alongside managing director Colin Porter. LDC’s investment strategy will be to partner with management to deliver continued growth across all channels of the business, the firm said.
LDC investment director Andy Grove, said, “In Joules we are partnering with a high-quality management team in a business which embodies the unique style of British country heritage. Joules has delivered considerable sales and profit growth in recent years, despite what has been a very challenging climate for the retail industry and we will work closely with the team going forward to help them execute the next phase of the business’ growth and development.”
The deal with Joules forms part of LDC’s continuing strategy to invest in leading regional mid-market businesses. The transaction represents the seventh new investment of 2013 for LDC’s Midlands’ team, and brings the total equity invested by LDC’s Nottingham and Birmingham offices this year to £100m, including follow-on funding.
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