3i has sold its interest in Rohan, the specialist manufacturer of outdoor and adventure clothing, to Piper Private Equity and Baring English Growth Fund in a secondary buyout. 3i bought Rohan from C&J Clark in September 1996. KPMG advised C&J Clark on that sale process.
3i disclosed that it was seeking a buyer for Rohan in December last year. No values have been disclosed.
The existing management team remains in place to take forward Piper Private Equity and Baring Private Equity’s investment. The team is led by Colin Fisher as executive chairman and Hugh Clark, managing director, and Philip Parkinson, finance director.
Rohan was formedin 1975 and is now a vertically integrated outdoor clothing brand in the UK, positioned at the premium end of the outdoor and adventure clothing market. It designs, sources, distributes and retails this clothing through 23 owned shops, 14 shops in shops, a mail order catalogue, a website and a number of wholesale accounts. The company employs 168 people.
Piper Private Equity and Baring Private Equity were advised by Gouldens (legal) and Rees Pollock for financial due diligence. Management was advised by Shoosmiths (legal) and Company Guides for corporate finance advice.