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Barclays Private Equity backs the management buy-out of The Original Factory Shop

15 Nov. 2004

Barclays Private Equity, the leading pan-European mid-market private equity house has added to its retail portfolio by backing the management buy-out of The Original Factory Shop. The buy-out results in Barclays Private Equity owning a majority stake in the business, with the management holding the balance.  

The Original Factory Shop is a value retailer with its Head Office in Steeton, West Yorkshire. Its 54 stores throughout the UK sell men’s, women’s and children’s wear, homeware electrical goods and toiletries across a wide range, including a large selection of branded goods. The company is the latest in a series of investments Barclays Private Equity has made in its consumer and travel sector, with recent investments including Antler Group, DCK Concessions, and Hobbs which exited in November.  

The Original Factory Shop has grown consistently over the past few years and is set to continue with its store roll-out programme.  

John Walker, Director of Barclays Private Equity who led the investment adds: “We recognise that The Original Factory Shop has strong growth prospects - the company excels in its market and has a very loyal and experienced staff. Tony O’Neill, a highly experienced retailer, joins the in-place management team as CEO”.  

Tony O’Neill CEO of The Original Factory Shop comments: “Our company has expanded successfully over the last few years. With the support of Barclays Private Equity we aim to drive the business on to its next stage of growth - increasing sales, introducing new product lines and opening new outlets. We are confident that Barclays Private Equity brings the necessary retail experience to help us develop the business.”  

Senior debt was provided by the Barclays Leveraged Finance team of Dion Hirst and Catherine Richards. Barclays Private Equity was advised by Deloitte and Addleshaw Goddard and KPMG advised the Vendors.

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