Park Place Corporate Finance

Independent advice for the independently minded

Republic

£20m Development Capital | £105m Management Buy-Out

Republic

Republic is a leading multi-brand fashion retailer operating throughout the UK with a distinctive customer proposition. Its product offering includes aspirational brands such as Bench, Hooch, Replay and G-Star, as well as up and coming niche brands and its own exclusive range.

The PPCF team first became involved with Republic when its then three partner shareholders were looking at strategic options in 2003. PPCF acted as lead advisor to the shareholders in the £20 million investment by 3i plc which provided the business with the necessary capital to embark upon an aggressive roll-out of its successful store format whilst allowing the shareholders to retain over 75% of the equity.

PPCF provided ongoing strategic and analytical advice to support the roll-out programme which proved highly successful. Impressive growth in turnover and profitability resulted and underpinned a £105 million MBO supported by Change Capital Partners and Lloyds TSB. On this occasion PPCF acted as lead advisor to Change Capital.

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