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Long Tall Sally acquired from Amery Capital by Equistone-backed TriStyle Mode GmbH

30 Aug 2016

"‹TriStyle Mode GmbH ("œTriStyle"), the Munich-headquartered direct fashion retailer backed by Equistone Partners Europe ("œEquistone"), one of Europe"™s leading mid-market private equity investors, acquires omni-channel tall women"™s retailer Long Tall Sally ("œLTS") from Amery Capital. LTS will join two specialist womenswear retailers for the over-45s market, Peter Hahn and Madeleine, within TriStyle"™s portfolio of independently managed brands. The deal is valued at c.£30 million.

Following its acquisition by Equistone last year, TriStyle has actively sought opportunities to invest in companies that can benefit from its operational and sourcing experience, financial stability, and strong market performance. Potential synergies between LTS and TriStyle’s current retail portfolio include their specialist and underserved target markets within women’s fashion, their omni-channel offerings comprising a substantial print catalogue component, and their complementary geographic footprints.

LTS will continue to operate independently from its East London offices with the existing management team, led by CEO Andrew Shapin.

Andrew Shapin, CEO of Long Tall Sally, commented: “The tall women of the world have a strong desire to purchase well made, up-to-date fashion and we are proud and passionate about working to provide them real choice. With the backing of Amery Capital, our team has  transformed Long Tall Sally from a £10 million UK retailer to an international, fast-growing, profitable, digitally-led omni-channel business, generating £50 million (€60m, $68m) in sales p.a. with c.70% of these online. We are very excited about the opportunity to further accelerate our growth around the world with the backing of one of Europe’s leading direct-to-consumer fashion businesses.”

Maurice Helfgott, Chairman of Amery Capital and Long Tall Sally, said: “We are delighted that Michael and Maurice Bennett will enjoy yet another well-deserved, successful return on the time, effort, and inspiration they have invested in Long Tall Sally over the past 10 years. They join me in wholeheartedly thanking Andrew Shapin and our wonderful teams and suppliers across the world for making Long Tall Sally such a success. I am very pleased to remain with the business as Chairman, and to reinvest with Andrew in TriStyle alongside such accomplished professional investors as Equistone Partners Europe.”

Michael Bork, Partner at Equistone and Head of the Advisory Board of TriStyle, said: “We are confident that bringing Long Tall Sally, Andrew, Maurice, and their team into the TriStyle Group will deliver real benefits to both the business and our customers. The creativity, professionalism, and understanding of customers, markets, and product of both teams is outstanding. Equistone continues to work with its investee companies to identify acquisition opportunities that will boost their development, as well as supporting their organic growth.”

Niels Degen, member of the TriStyle management team, said: “We are extremely excited to welcome Long Tall Sally to the TriStyle Group. Together with LTS and its excellent management team we will continue to strengthen our position as a leading women's omni-channel fashion retailer. We look forward to working together closely to support the continued growth of LTS, Peter Hahn, and Madeleine."

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