Clothing brand founders Tim Slade and Jules Leaver had a £7m (and growing) business on their hands in 2000 but just wanted to go skiing and were thinking of selling up.

We saw two people who were running their business well, but who needed the confidence in their ability to run a much bigger business building up and the right people putting alongside them to continue to grow the brand.

Our initial investment enabled Tim and Jules to realise about two thirds of their value, with the remainder rolled into a majority stake. Our involvement then freed up the founders for bigger thinking and enabled this emerging active lifestyle brand to become the market leader. A corporate structure evolved around them and after three years they were able to take a back seat and let a new professional team drive the business. Two years later they were able to sell their shares – for more than ten times their original deal value – and took off back to the slopes. We combined the founders ‘magic dust’ with a corporate structure and a first rate team that enabled Fat Face to flourish.

"I don’t mind admitting that I found it quite difficult to let go of Fat Face. It was a successful exit for everybody. A couple of months afterwards I went for lunch and a bottle of wine or two with Tim and Jules. We talked about the journey of the business for most of the afternoon. And then I felt we had done our bit."  Mark Advani, ISIS.

During ISIS investment:

• Turnover increased nearover sixfold to £60 million.

• Store base more than tripled from 30 to 98.

• Went from one of a number of emerging businesses in the active wear sector to clear market leader.

1989
Founded by Tim Slade and Jules Leaver

1993
First shop opens in Fulham

2000
ISIS acquires minority stake for £3.5m, Clive Beharrell joins as Chairman

2002
Investment in IT systems to support multi channel strategy

2003
Management team strengthened – Chief Exec and FD onboard

2004
Distribution centre move

2005
ISIS sells Fat Face – generating a return of 11.5x