British menswear brand T.M. Lewin, which operates a global business with sales of over £120 million in fiscal 2019-20, was recently acquired by Torque Brands, a special purpose acquisition vehicle set up by UK consumer specialist SCP Private Equity. SCP took over the reins from global credit specialist Bain Capital Credit, which acquired T.M. Lewin in 2015.
SCP managing partner James Cox will now also be executive chairman of Torque Brands and is working alongside a seasoned team of investment and operating experts, who combined have led liquidity events totalling more than £30bn in the sector, according to UK media reports.British menswear brand T.M. Lewin, which operates a global business with sales of over £120 million in fiscal 2019-20, was recently acquired by Torque Brands, a special purpose acquisition vehicle set up by UK consumer specialist SCP Private Equity. SCP took over the reins from global credit specialist Bain Capital Credit, which acquired T.M. Lewin in 2015.#
T.M. Lewin’s online sales have grown quickly, comprising more than 30 per cent of the group’s revenues last year, with the brand over indexing in terms of sales in the 25-34 year-old age group, positioning it well to capitalise on the growth in smart casual workwear.
“There are significant headwinds against great retail businesses in the current environment – posing a very real threat to the sector’s future,” said Cox.
“We wholeheartedly believe that specialist vertical-specific British brands, such as T.M. Lewin, will continue to hold a premier position in the eyes of the global consumer, and look forward to the challenge of helping the company adapt to the rapidly changing retail landscape,” he added.
Fibre2Fashion News Desk (DS)
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