Seraphine acquired in £50m deal
Seraphine, the luxury maternity brand, has been acquired in a management buy-out led by technology investor Mayfair Equity Partners.
The company was bought from Bridgepoint Growth and its founder Cécile Reinaud in a deal valuing the company at around £50 million.
Launched in 2002 by Reinaud as a boutique store in London’s Kensington, Seraphine now sells into 127 countries and has stores in the UK, US and Europe. The company also has a strong ecommerce business and now has around 90% of sales coming through online channels.
Seraphine achieved £28.1 million in sales for the year to 31 March 2020 and has seen consistent revenue growth of around 30% per annum.
Following the sale, the brand will look to use Mayfair’s expertise to expand further in new and existing markets whilst also investing in product development and new digital channels.
David Williams, chief executive of Seraphine, said: “The global annual market for maternity wear is now more than £5 billion. Seraphine is perfectly positioned to capitalise on this with our expanding digital footprint and in-house product team, who design innovative, quality products for mums at every stage of the maternity journey.
“Over the last few years, we have strengthened our service proposition, marketing, technology and logistics and now have the perfect platform for the next stage of our impressive growth. We have been very selective about who we partner with and have been incredibly fortunate to have found both Bridgepoint and Mayfair.”
Daniel Sasaki, managing partner at Mayfair Equity Partners, added: “With its depth of range, market leading innovation, and premium brand positioning Seraphine has grown to become a scale specialist maternity and nursing brand with a digitally led business model.
“By investing more in digitally led growth, specialist product innovation, and increased brand marketing, we will be backing the Seraphine team to accelerate their growth in the UK, Europe and the US. We are thrilled to be partnering with David and the Seraphine team.”
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