Law firm Hill Dickinson has advised the fast-growing, female-first, outdoor brand, ACAI Outdoorwear, and its shareholders, on a £3 million investment by consumer-focused investment firm Growth Partner.
The minority stake taken by Growth Partner, an investment company backed by HomeServe plc founder and CEO Richard Harpin, will help accelerate ACAI’s growth plans in the UK and internationally.
ACAI was founded in 2016 by fashion designer and entrepreneur Kasia Bromley and her husband Joe. The couple have experienced exceptional growth with ACAI, doubling revenue each year since inception and growing the staff base from four to 25 over the last three years. Richard Leedham (ex-Berghaus CEO and Pentland Group executive board member) has recently joined the company as CEO to lead the next phase of growth.
Matt Noon, head of Hill Dickinson’s Liverpool Corporate team and head of Hill Dickinson’s Liverpool office, advised ACAI and its shareholders on the deal, together with senior associate Phil Wallbank and legal apprentice Nick O’Shaughnessy.
Commenting on the deal, Matt Noon said:
“ACAI is a business that is meeting very real demand in the market for stylish functional outdoor wear that is designed primarily for women. This investment will enable ACAI to enter the next phase in its growth, entering international markets, launching new products and expanding from its current direct-to-consumer channel. It was a great deal to work on and I think Growth Partner will be an excellent partner for the business going forward.”
Joe Bromley added:
“Matt, Phil, Nick and the team were an invaluable help on the transaction and did a great job for the company and the shareholders. They were commercial, approachable and incredibly diligent, meaning we were in good hands. In terms of the deal itself, we are delighted with the result and are really excited to embark on the next step of the ACAI journey in partnership with Growth Partner.”
