A team led by Altium CEO Phil Adams together with Sam Fuller and Madeleine Jahr has advised the Singh Family Trusts on the GBP1.9 billion agreed sale of New Look to Brait.
Brait has acquired a 90 per cent stake in the business primarily from funds advised by Apax and Permira while the Singh Family Trusts and management will own the remaining 10 per cent of the business. Brait is a leading South African investment group which recently acquired Virgin Active.
Tom Singh founded the business in 1969 before floating it in 1998 and taking it private in 2004 with the backing of Apax and Permira.
Phil Adams, CEO of Altium Capital, says: “It has been a pleasure to work with Tom Singh and his family office on this deal. Tom has overseen the hugely successful growth of New Look since inception and is delighted to be retaining an ongoing interest and role in the Company.”
Madeleine Jahr, Head of Altium's Family Office Practice, says: "This deal represents a landmark transaction on which Altium was delighted to support a great entrepreneur through combined M&A and Family Office expertise.”
Tom Singh, Founder of New Look, adds: “I am delighted that this transaction has been successfully concluded and look forward to playing a part in New Look's continued success. We very much enjoyed working with the Altium team and found their approach both constructive and commercial.”
