Baugur acquires fashion retailer Jane Norman from Graphite
01 Aug '05
4 min read
Kaupthing Bank acted as sole financial advisor to the investor group, underwriting senior and mezzanine debt financing to support the acquisition. Graphite and the other shareholders of Jane Norman were advised by Hawkpoint.
Kaupthing Bank is a full service Investment Bank and a leading provider of advisory and financing services to small and mid-sized companies. It is one of the 10 largest banks in the Nordic region, with a market capitalisation of over €4bn. Kaupthing Bank has expanded successfully in London, developing its footprint with the recent acquisition of Singer & Friedlander and the formation of Kaupthing Principal Investments.
The Jane Norman transaction represents the first investment for Kaupthing's newly formed Principal Investments team. The team's focus is equity investments of £10m to £100m in UK and Nordic companies in a broad range of sectors. It will also seek to provide senior and mezzanine debt funding through the bank's Acquisition & Leveraged Finance team.
The Principal Investments team will inherit the Bank's current portfolio of investments including the fashion retailers Mosaic Fashions and Studio Group, managed pub chain Laurel Pubs and pan European refrigeration group Huurre.
Iceland based Baugur Group is an international investment company focusing on investments in the service, retail and real estate sectors in Iceland, UK, and Scandinavia. Baugur Group currently employs some 50,000 people in over2,400 shops. The combined turnover of the Group in 2004 was over £ 6.500m.
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