End acquired by the Carlyle Group

Luxury, streetwear and sportswear retailer End has announced that the Carlyle Group, a global investment firm, has acquired a majority stake in the group.

Closing on 1 April 2021, the deal sees founders Christiaan Ashworth and John Parker retain a significant majority stake and remain co-CEOs at the company.

However, minority holder Index Ventures will fully exit its interest in the global multi-brand, digital-led retailer.

Through the acquisition, Carlyle intends to support End’s domestic and international expansions by using the company’s £5.5bn Carlyle Europe Partners fund.

Massimiliano Caraffa, managing director for consumer and retail at the Carlyle Europe Partners advisory team, said: “We are attracted to End’s distinctive style, which mixes luxury and contemporary brands with the best in sneakers and sportswear. 

“We are excited by the many growth opportunities that lie ahead for the company, including the launch of womenswear as well as further international expansion.”

Founded in 2005, End partners with over 500 designers and brands from its headquarters in Newcastle.

The company now employs more than 650 staff members, generating revenues of £170m for the year ended 31 March 2020.

Ashworth and Parker said that Carlyle’s “strong track record” in the industry is “invaluable” to achieving the firm’s growth strategy.

They added: “Carlyle’s industry knowledge and truly global platform will be instrumental as End continues to reach an increasingly international audience.”