The management team behind the UK subsidiary of BrandAlley has completed a management buyout of the private sales etailer.
The MBO was backed by private investors and will now separate from the company’s existing shareholders News International and BrandAlley France.
Bruce MacInnes, previously chairman of sports data group, RunningBall, and head of TMT Investment Banking at Investec, will become the new chairman of BrandAlley UK.
The rest of the BrandAlley UK management team and its existing business model will remain the same.
“As we set out on a new path as an independent company, we will look to build upon our success to date and continue to offer our members the best brands at fantastic prices,” said BrandAlley UK chief executive Rob Feldmann.
“We are delighted to have the expertise of Bruce MacInnes as chairman as we move into the next phase of our development. These are exciting times for everyone involved with BrandAlley UK.”
MacInnes added: “We have a tremendous opportunity to capitalise on the company’s leading position in the market.”
BrandAlley UK was launched as a joint venture between BrandAlley France and News International in 2009. BrandAlley France launched in 2005.
Media and technology focused corporate finance advisory firm Clarity acted as financial advisor and Taylor Wessing acted as legal advisor to News International and BrandAlley France on the transaction.