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The private equity backer of Weird Fish has launched a new investment vehicle, which sees Total Capital Partners (TCP) rolling Weird Fish into a new holding company while raising its stake in the group.
The new company, named Auralis, has seen TCP raised its stake in the clothing brand to 80%, in a deal that is understood to value Weird Fish at around £35m.
TCP said the formation of Auralis marks its “continued commitment to supporting ambitious management teams and investing in growth-focused businesses”.
It added the investment aims to “accelerate expansion, drive operational improvements, and deliver meaningful synergies across the portfolio building on Weird Fish’s record financial performance and experienced management team”.
The move comes as Weird Fish reported a “record” first half and is on track to deliver an uplift in EBITDA in FY25 against the £5.4m the prior year.
New Auralis Group CEO and Weird Fish CEO, David Butler, said: “In light of current market dynamics in the retail sector, many UK businesses have been limited in their abilities to invest in their own businesses while shareholders have struggled to find a home for their brands and businesses.
“We believe that by combining select businesses looking to be part of a growth and value creation platform, we will be able to generate greater value through integrated operations than they could achieve independently.”
Natalie Eastham, managing partner at TCP, added: “It’s been eight years since we invested in Weird Fish and during that time it’s grown from a primarily wholesale business posting modest earnings and revenue growth to one which is recording record results and expanding its omnichannel presence.
“When the opportunity came to take the business to its next stage of growth, we wanted to be part of that journey and we are excited about the growth opportunities that lie ahead with Auralis and this experienced management team.”
