The price is undisclosed. The founders, Tim Slade and Jules Leaver, will retain a substantial stake in the business.ISISEP invested in Fat Face in February 2000 to support the growth and development of the business. Fat Face is an active lifestyle brand in the UK selling clothing, footwear and accessories through retail and home shopping channels. Over the last five years, the business has increased its turnover by over six-fold to £60m and its store base from 30 to 98 today. The sale to Advent yields a multiple of over 11.5 times and an IRR of 67% to ISISEP’s clients.
Mark Advani at ISISEP said: “This has clearly been an outstanding investment for ISISEP’s clients and cements our position as the leading consumer markets investor in the lower mid-market. Fat Face is an excellent business and we wish the team well for the future.”