Gant flotation nets 91% IIR for 3i

3i has co-led the €241m flotation of Gant Company, a fashion apparel company, which achieved a 91% IRR and money multiple of 4.7x for the private equity firm.

In July 2003 3i co-led, with L Capital, the £105m buyout of Gant. Today, having worked closely with management growing the business, Gant has entered 13 new markets and opened more than 50 new stores.

During this period Gant experienced steep growth with brand sales and profits increasing by more than 55% and 85% respectively. This increase was fuelled by a combination of continued healthy growth in Gant’s core menswear business and the highly successful launch of a new womenswear line. Between 2003 and 2005 the company entered 13 new markets and more than 80 new Gant branded stores were opened.

Mattias Eklund, partner, 3i, said: “We are delighted to have had the opportunity to work with Gant’s excellent management team over the past three years. We’re thrilled with Gant’s flotation and wish the company further success as a listed company.”

Arthur Engel, CEO of Gant, said: “We have valued our partnership with 3i highly. We are excited about the opportunities to further strengthen our brand and grow our business in existing as well as new markets.”