Wool Overs, the online and mail order knitwear retailer, has been acquired by private equity firm Langholm Capital. Clearwater International advised the founders of Wool Overs on the sale.
Founded by Mark and Clare Shenton in 1989, Wool Overs has developed from a business selling cable-knit sweaters at country shows to an international online retailer selling over 150 different styles of jumpers, sweaters and cardigans.
Based in West Sussex, the business has been recognised as a ‘Fast Track 100 One to Watch’ – with turnover increasing by 25% in each of the last two years. One-third of the company’s sales are now generated overseas, with its online channel being a key route to market.
Langholm Capital specialises in partnering with high-growth consumer facing businesses, such as Dorset Cereals and Tyrrells Crisps, and the firm has long been interested in the branded online retail space. This transaction represents the fourth investment from Langholm Capital’s second fund, which is now over 70% invested.
Clearwater International advised Wool Overs on the deal. The team was led by partner Gareth Iley, supported by associate directors Helen Lowe and Natasha Price and associate James Clifford. This is the fifth deal that Clearwater International has completed in the Consumer sector in 2015.
Mark Shenton, founder of Wool Overs, said: “This is a very exciting opportunity for Wool Overs and a new chapter in its history. Langholm Capital has a track record of building brands and growing businesses – I look forward to a fruitful partnership and realising Wool Overs’ full potential.”
Gareth Iley, Head of Consumer at Clearwater International, commented: “We are delighted to have advised Mark and Clare on the sale of Wool Overs to Langholm Capital. Mark and Clare have created a niche, by building a leading e-commerce business selling high-quality knitwear at compelling prices. We are confident that Langholm Capital, Mark and the management team will continue to make Wool Overs a huge success.”