We have advised the management team of Retail Assist on a multi-million pound buy-out and investment in the company by Foresight Nottingham Fund LP and Royal Bank of Scotland.
Retail Assist is a retail and hospitality specialist providing IT managed services and software solutions which underpin the success of brands such as Harvey Nichols, Karen Millen, ASOS, Oasis, Coast, Warehouse, Vue Cinemas, Pizza Hut, and Cath Kidston.
With a current turnover of £15m Retail Assist provides services and solutions across 66 countries, delivering support in nine languages, and employs 220 people who have been responsible for the company’s success. Established in 1999, this year sees the business reach its 18th trading anniversary. The multi-million pound investment deal will facilitate their rapid growth strategy to double the size of the business over the next three years.
Under the new investment structure the company shall be led by the current CEO, Dan Smith, and Operational Board, with the addition of Mike Quinn from Foresight Group as Investor Director.
Dan Smith, CEO at Retail Assist said: “The investment will provide Retail Assist and its employees with a much wider opportunity for growth and progression as it continues to become an even bigger player in the market. At a time when retail and technology are constantly changing the investment brings with it a springboard for growth and the opportunity for expansion, whilst remaining true to the values and approach that Retail Assist engages with its customers.”
The deal was led by our Corporate Partner, Mark Rutherford who was assisted by Senior Associate, Victoria Elliott and Solicitor, Liz Mills.
Commenting on the deal, Mark said “We are delighted to have advised Retail Assist’s management team on this transaction. We have acted for the company for several years and over this time have seen the company win a multitude of awards and grow from strength to strength. We’re very pleased to have supported this exciting next step of the company’s continued development”.