Browne Jacobson’s corporate finance team has advised fashion house and lifestyle brand Joules and its management team on the investment by leading mid-market private equity firm Lloyds Development Capital (LDC) of a £22m minority stake
Founded by Tom Joule, Joules opened its first store in the Leicestershire market town of Market Harborough in 2000 and since then has expanded apace. The retailer now has 61 retail shops nationwide and also sells its fashion lines through department stores John Lewis, Fenwick and Harrods.
The Browne Jacobson team was led by corporate finance partner Gavin Cummings, assisted by Paul Ray, Paul McCannah, Emma Hopkinson and Beth Dowson .
Other advisers for Joules included Rothschild (corporate finance) and PwC (tax).
Gavin Cummings said:
“ We have acted for the business for many years and are thrilled to have acted on this significant investment which will help the business to continue its ambitious expansion plans”.
Browne Jacobson has one of the largest corporate finance teams in the Midlands with particular strength in the retail sector, having acted earlier this year for the founding shareholders on the sale of Vets4Pets to Pets at Home.
