ISIS Equity Partners sells Fat Face

ISIS Equity Partners plc ("ISISEP") is pleased to announce the disposal of Fat Face Holdings Limited ("Fat Face") to Advent International.

ISISEP invested in Fat Face in February 2000 to support the growth and development of the business. The original investment was led on behalf of ISISEP by Mark Advani.

Fat Face is the leading active lifestyle brand in the UK selling clothing, footwear and accessories through retail and home shopping channels. Over the last five years Fat Face has increased its turnover by over sixfold to £60 million and its store base from 30 to 98 today.

The sale to Advent yields a multiple of over 11.5x and an IRR of 67% to ISISEP's clients. Mark Advani and Adam Holloway of ISISEP managed the investment throughout and handled the exit to Advent.

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."

Louise Barnes, CEO of Fat Face, said: "Our partnership with ISISEP has been a fantastic success and together we've taken the Fat Face brand to new levels. The whole Face Face crew is now looking forward to another exciting phase in our growth."

Published: 04 May, 2005