Weird Fish managing director John Stockton has led a management buy out of the ethical lifestyle brand backed by investor Piper Private Equity.
Piper provided £8m of funding to support the MBO and it now has a majority stake in the business. The funding will be used to develop Weird Fish’s clothing offer and expand its wholesale and direct accounts.
Weird Fish, which was founded 15 years ago, has over 400 national and independent wholesale accounts. Piper first approached Weird Fish two years ago but wanted to work with Stockton who joined the brand a year ago.
Stockton was formerly chief executive of boardsports retailer and brand Animal which he left in June 2008.
Stockton said: “I am delighted that we have chosen Piper as our partner for growth. Their track record of successfully growing clothing businesses such as Boden and Gray & Osbourn will enable us to achieve outstanding results over the coming years.”
George Adams of Piper said: “We have built our relationship with Weird Fish over the last two years, in the belief that the business has enormous potential in a vibrant sector of the clothing market. We are particularly pleased to be supporting John Stockton whose track record in branded active clothing is second to none.”
Earlier this year, Weird Fish unveiled a three year strategy to build the brand’s profile and expand its UK wholesale footprint to 500 accounts.