Rockpool invests £3.2m to support expansion of the highly sought after House of Hackney
3 years ago
Rockpool Investments LLP [“Rockpool”] has invested £3.2m into the highly sought after brand, House of Hackney Group Limited [“House of Hackney” or “The Company”], for a significant minority stake with funding to be used to accelerate the future growth in the business both domestically and internationally. The transaction is Rockpool’s 7th of 2017, taking the total amount invested in 2017 to £34m.
House of Hackney is a fast growing, profitable business with an internationally recognised aspirational brand design and a track record of success online and in major retailers, such as Harrods, Selfridges, Bergdorf Goodman and Lane Crawford, and an emerging presence in wholesale channels. Products include luxury fabrics, wallpapers and home interior products. The Company was established in 2012 and has experienced explosive growth, in sales and profile, since.
David Ramsey worked with Rockpool on the transaction and has been appointed Chairman following completion.
Frieda Gormley, Joint Founder and CEO of House of Hackney, commented:
“We are excited to lead the brand into the next growth stage, taking it international in the process.
From the early conversations with Rockpool we could see that we shared a vision and had an aligned strategy and we are looking forward to building the next part of House of Hackney with their support.”
Tommy O’Sullivan, Investment Director at Rockpool, said:
“House of Hackney has caught the public’s imagination. Its success is built on highly desirable, quality products which excite people and create a desire to engage. This is proved each year with the growth in sales and media and social media engagement.
The last year has seen a significant strengthening of the management team, priming the Company to accelerate its already impressive growth track record. We are excited to have the opportunity to support Frieda, Javvy and the team as they continue to redefine the market.”
Rockpool is an independent firm dedicated to creating opportunities for individuals through private investments. The deal forms part of Rockpool’s continuing strategy to support high quality SME management teams across the UK.
Rockpool provides equity and loan finance of £3m to £12m to profitable private companies. It has 55 companies in its portfolio and invests approximately £100m a year. The firm provides funds for MBOs, growth and development funding and equity release in companies with turnover higher than £5m.