Mayfair Equity Partners (Mayfair) has announced the management buy-out of maternity and nursing wear brand Seraphine from Bridgepoint Growth and its founder Cecile Reinaud in a deal that values the business at £50 million.
Seraphine posted sales of £28.1 million for the year ended 31st March 2020, with an EBITDA of £4.7 million. Some 90 per cent of its sales were generated online, 74 per cent from overseas markets. Launched in Kensington from a single store in 2002 the business has been led by CEO David Williams since 2019. A former ASOS digital experience director, William joined as COO in 2017 when Seraphine acquired a major shareholding.
Seraphine founder Cecile Reinaud said: “I’m delighted that Seraphine is backed by a new investor and will continue on its exciting growth journey. Bridgepoint has been incredibly supportive for the last three and a half years and I am now handing over Seraphine to its amazingly talented management team under the leadership of David Williams.”
David Williams, CEO, Seraphine added: “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.”
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