Mountain Warehouse set for big expansion
MOUNTAIN WAREHOUSE, the UK’s leading outdoor clothing and equipment retailer, is set for major expansion following a £45m investment from private equity firm Inflexion.
The retailer is eyeing up several Yorkshire locations as it embarks on ambitious expansion plans across the region.
The deal sees Inflexion invest £45m for a 20 per cent stake in Mountain Warehouse, giving the retailer an enterprise value of £310m.
Mountain Warehouse will continue to be run by founder and CEO Mark Neale and his team.
Mr Neale started the business with a single store in 1997. Today, it is a multi-channel business employing more than 3,000 people.
The group has over 220 UK stores and a further 80 international shops in Poland, Canada, Holland, Germany, Ireland, Austria, New Zealand and the US.
Mountain Warehouse sales leapt 22 per cent to a record £225m in the 12 months to February 25, marking 21 years of unbroken revenue growth.,
Inflexion’s investment will help the company increase its share of the £14bn European market for outdoor clothing and equipment and develop its digital sales channels.
Mr Neale said: “I am delighted to be teaming up with Inflexion. They truly understand our business and their investment will help turbo-charge our expansion plans, particularly overseas and online.
“It’s my firm belief that if you have the right products at the right price, in the right locations and provide great service, people will keep shopping with you. It’s great that Inflexion share that belief and wants to help support the next phase of our growth.”
Simon Turner, managing partner at Inflexion, added: “We have known the management team for many years, having identified the business as one with an unrivalled brand in the outdoor market. Having followed the business for a decade, we understand how management envisage it growing, and look forward to assisting them with their growth in the UK and international markets, as well as with their digital offering.”
The Inflexion deal team included Carl Wormald, Edward Lynch and Nick Rosenberg.
Their investment will help turbo-charge our expansion plans. Mark Neale, CEO of Mountain Warehouse.