Foresight Group ("Foresight”), a leading infrastructure and private equity investment manager, is pleased to announce the completion of a £3 million investment into Ollie Quinn Limited ("Ollie Quinn”, or the "Company”) from Foresight VCT to fund the rollout of additional stores throughout the UK and Canada.
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Ollie Quinn is a branded retailer of prescription glasses, sunglasses and non-prescription polarised sunglasses based in the UK and Canada. The Group has experienced strong growth since inception in 2013, and now has 16 stores across two countries. Focused on a single branded, eyewear retail model, Ollie Quinn offers high specification, stylish glasses at a competitive price point.
Foresight’s Private Equity Team continues to be very active in the UK SME market. The team completed twelve investments during 2016 and Ollie Quinn is amongst five completed in the first quarter of 2017.
Lizzie Ryan, Investment Manager, Foresight, said: "We are delighted to invest in Ollie Quinn to help facilitate the rollout of additional stores throughout the UK and internationally. Ollie Quinn represents a compelling opportunity to build a leading branded eyewear retailer at a competitive price point in a growing market. Management have demonstrated strong growth rates since inception and we look forward to working with them to accelerate the rollout over the coming years”.
David Garrett, Founder and MD, Ollie Quinn said: "Following the successful launch of Ollie Quinn last week, we are really excited to have brought Foresight on as a partner. It has been a pleasure working with Foresight’s experienced investment team, who we look forward to working with to bring the Ollie Quinn eyewear experience to new customers across the country.
"Ollie Quinn is all about customer experience. While it is naturally about providing high quality and affordable eyewear, it is also about getting to know our customers so they feel a part of the Ollie Quinn family. Foresight share these values and have fully embraced our team culture; it is a mutual priority to see this culture strengthen as we grow together.”
For more information contact:
Annabel Arrowsmith, Foresight Group, email@example.com +44 (0)20 3667 8179
NOTES FOR EDITORS
About Foresight Group LLP ("Foresight”):
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
Foresight has £2.3 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
Foresight’s Private Equity team, comprising sixteen investment professionals, invests between £1m and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.
Foresight was voted "VCT House of the Year” at the 2016 Unquote British Private Equity awards.
The Foresight Regional Investment Fund, targeting companies in the North West of England, North Wales and South Yorkshire supported by Foresight’s new Manchester office deployed one third of funds within its first 12 months and has a strong pipeline of investment opportunities under consideration.
The Foresight Nottingham Fund has now made investments into twelve companies and is over 50% deployed, with portfolio company TheIdleMan.com announcing a further investment from Channel 4 in the form of an innovative media for equity deal.