Mountain Warehouse management buyout LDC

The management team at outdoor clothing retailer Mountain 

Warehouse has taken full control of the business after buying out minority shareholder LDC, the private equity arm of Lloyds Banking Group, in an 85 million pound deal.

Led by Mountain Warehouse boss Mark Neale with funding from Royal Bank of Scotland and Alcentra, the deal now means that the retailer can “push ahead” with its expansion plans.

In a statement, Neale confirmed that he sees the potential in the retailer and is planning to expand its European store count to 300 shops, as well as grow its online business, which currently ships to more than 100 countries.

LDC has held a minority stake in the outdoor clothing retailer since August 2010 and Neale stated that he had received “fantastic support” from LDC but added that the retailer was looking ahead to the future.

Neale said: “Having had four private equity investors over the last 16 years, we have now taken the opportunity to buy back full control and to push ahead with our exciting expansion plans. I am delighted that RBS and Alcentra are backing the team for this important next phase of growth.”