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Browne Jacobson helps clothing retailer Joules secure LDC investment stake

4 November 2013

Browne Jacobsons corporate finance team has advised premium country heritage lifestyle brand Joules and its management team on the investment by leading mid-market private equity firm Lloyds Development Capital (LDC) of a £22m minority stake.

Founded by Tom Joule, Joules opened its first store in the Leicestershire market town of Market Harborough in 2000 and since then has expanded apace domestically and in international markets, particularly in the USA, Germany and Asia. The retailer now has 61 retail shops nationwide and also sells its fashion lines through blue-chip wholesale stockists include John Lewis, Harrods and Selfridges

The Browne Jacobson team was led by corporate finance partner Gavin Cummings, assisted by Paul Ray, Paul McCannah, Emma Hopkinson and Beth Dowson.

Other advisers for Joules included Rothschild (corporate finance) and PwC (tax).

Gavin Cummings said:

"We have acted for the business for many years and are thrilled to have advised on this significant investment which will help the business to continue its ambitious plans for expansion both in the UK and internationally through a multi channel strategy.".

Browne Jacobson has one of the largest corporate finance teams in the Midlands with particular strength in the retail sector, having acted earlier this year for the founding shareholders on the sale of Vets4Pets to Pets at Home. The team is also rated as the premier corporate finance team in the East Midlands, according to the latest edition of Chambers UK.


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Lakhbir Rakar

Lakhbir Rakar

PR Manager