Endless backs buyout of luggage firm Antler

By

Barbara Santamaria

Published
Jul 26, 2017

Private equity investor Endless has bought British luggage firm Antler from private equity house LDC as part of a management buyout. David Sharman will continue to lead the company as CEO.

The acquisition is part of a series of investments by Endless in two weeks, and comes after a busy first half of 2017 which has also included the acquisitions of Jones Bootmaker, jewellery brand Theo Fennel and Arran Aromatics.

Headquartered in central London, luggage company Antler has a turnover of £35m and 32 retail locations throughout the UK. The 100-year-old business designs and supplies a range of luggage across two brands, Antler and Revelation, including the recently launched Atom line. The new collection of lightweight suitcases is made from Armodoron, a pioneering material developed and manufactured in the UK.

"We are delighted to have invested in this iconic British brand. With fresh investment and hands-on support from Endless, we believe Antler is capable of delivering strong sales and profit growth in the future and we’re excited about the opportunities ahead,” said Endless partner Tom Jack, who will join the Antler board.

LDC first invested in Antler in 2010. It will retain a small minority stake in the mid-market company following the sale to Endless. Simon Adcock, senior portfolio director at LDC, commented: “This is a good outcome for all parties. Bringing an external investor on board provides management with an opportunity to deliver their ambitious growth plan and to further invest in the Antler and Revelation brands both in the UK and overseas in what remains a growing market.

"With its reputation for quality and innovation, and unique British heritage, Antler has the potential to further expand. We wish the business and management team every success under the future ownership of Endless."