News coming through this morning that Graphite Capital has won the private equity bidding war for upmarket shoe brand Kurt Geiger in a £95m deal. The MBO was led by Kurt Geiger CEO Neil Clifford; Graphite takes over from fellow private equity house, Barclays Capital, which backed the £46m management buyout of the business in 2005. Barclays had originally bought the business from the Knightsbridge department store Harrods. Four private equity firms are believed to have made it through to the final stages of the auction for shoe retailer Kurt Geiger.
Four private equity firms had been in the frame: Advent, 3i, Graphite and the private equity arm of Flemings Family & Partners.
A little ray of sunshine for the struggling high street and indeed private equity sector.
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