TM Lewin has been acquired by Torque Brands, an acquisition vehicle established by SCP Equity. The menswear business generated sales north of £120 million for FY20 and its online sales, in particular, have enjoyed strong growth. The business was sold by Bain Capital.
SCP managing partner James Cox will act as executive chairman for Torque Brands and commented: “There are significant headwinds against great retail businesses in the current environment, posing a very real threat to the sector’s future. We wholeheartedly believe that specialist vertical-specific British brands, such as TM Lewin, will continue to hold a premier position in the eyes of the global consumer, and look forward to the challenge of helping the company adapt to the rapidly challenging retail landscape.”
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