Business Growth Fund, the venture capital fund backed by the UK’s five main banking groups, has invested £3.75m ($5.7m) in UK-based menswear brand Oliver Sweeney, Angel News reported yesterday.
The funding, which gives BGF a minority stake of undisclosed size, follows Oliver Sweeney’s expansion into footwear. The company manufactures and sells clothing, shoes and accessories made using traditional craftsmanship.
Founded in 1989, the brand was purchased by its current owners Maurice Helfgott and private equity firm Amery Capital in 2009. Helfgott is the chairman of Amery.
Oliver Sweeney will use the fresh capital to diversify its marketing strategy and introduce licensing of its designs. The company currently sells its products in six stories across England as well as online.
– Image courtesy of Oliver Sweeney