The Business
Equip Outdoor Technologies is the owner of the Rab range of performance clothing.
The Deal
Mobeus provided finance to enable Equip to acquire the Lowe Alpine clothing and rucksack brand from its Italian administrator. We worked alongside a leading clearing bank, providing £4.5m of equity investment as part of an overall £20 million funding package. We also introduced a Chairman at completion with a strong background in the clothing, textiles and branded sectors.
The Realisation
In 2022, Mobeus sold its stake in Equip back to management generating a money multiple of 6.9x. This asset was held by the Mobeus VCTs which were sold to Gresham House in September 2021.
The Impact
The business grew significantly with its core Rab brand gaining market share and growing in the USA – taking EBITDA to over £18 million.
