Masai acquired by private equity group

Danish womenswear brand Masai has been acquired by private equity group Silverfleet Capital for an undisclosed amount. The acquisition marks the first investment Silverfleet has made from its new 850 million euro Silverfleet Capital II, which closed last month.

Masai is headquartered in Copenhagen and wholesales and retails its own-designed clothing in more than 25 countries around the world, with its core markets being the Nordic region where it has 18 retail outlets in Denmark, Sweden and Norway. Other strong markets for the womenswear brand include the UK and Germany, and its clothing can be purchased at 1,340 points of sale in countries such as the US, Canada and Australia.

Silverfleet Capital has confirmed that it will acquire a majority interest in the Danish fashion brand from its founders, Hans and Nina Rye, the brother and sister team who founded the business 23 years ago. The existing management, led by CEO Sune Bjerregaard, will continue to lead the business and will acquire a minority interest in the brand.

Silverfleet Capital acquires majority stake in Masai

It is hoped that the investment will allow the business to “deepen Masai’s penetration into existing markets” as well as allow the brand to expand into new geographies where there is considerable potential for growth. Currently, its worldwide retail sales are approximately 105 million euros.

Sune Bjerregaard, CEO of Masai, said: “We are delighted to partner with Silverfleet. We felt they were the right partner for us to help us grow even further, particularly as they have extensive experience of investing in retail and consumer related businesses and a significant track record of helping companies to expand internationally.”

Gareth Whiley, partner at Silverfleet Capital, added: “We are very excited about this new investment. Masai has a strong and differentiated brand and we look forward to working with the management team to build on what has already been achieved and to accelerate growth further.”

As part of the transaction, Whiley along with Mark Piasecki, principal at Silverfleet will join the Masai board as non-executive directors.

This marks Silverfleet’s third Danish transaction in recent years, but the first in fashion.

Image: Masai