Foresight Group ("Foresight”) invests seven figures into Player Layer Limited ("PlayerLayer” or the "Company”), an award winning designer and retailer of premium sports performance clothing from the Foresight Nottingham Fund ("FNF”).
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Founded in 2009, PlayerLayer is a designer and retailer of premium sports performance clothing. The sales focus to date has been on educational establishments, in particular the ‘top tier’ universities and schools to which the Company supplies premium, personalised and customised technical sports clothing across all disciplines. PlayerLayer has recently increased focus on both professional sports team and the wider consumer market which includes a successful collaboration with Selfridges for its Olympics inspired leggings.
The head office is based in West Bridgford, Nottinghamshire where the Company employs 39 staff. Foresight’s investment from the Foresight Nottingham Fund will be used to facilitate continued growth by funding working capital and increasing the sales team to accelerate growth opportunities.
The Foresight Nottingham Fund is a £40 million fund that targets equity investments of up to £2 million into profitable growth companies, with a focus on Nottingham and the Nottinghamshire region.
Joe Middleton, Executive Chairman of PlayerLayer commented: "We are delighted to announce our partnership with the Foresight Group. Over recent years we have developed a unique positon as the premium British sports clothing brand, serving important niches with customised performance kit. Our customers include prestigious universities, schools and professional clubs, largely in the traditional British sports. The key to success in this sector is not only a great brand and great product. It must go hand in hand with operational excellence and customer service. Our partnership will allow us to invest even more deeply in the operating resources required to support our current customers and our future growth.”
Lizzie Ryan, Investment Manager, Foresight Group, commented: "The UK sportswear market continues to experience significant growth, a trend that is likely to continue over the next five years. PlayerLayer is an exciting, high-growth company embedded in the Nottinghamshire community. We are looking forward to supporting the continued growth of an emerging market leader with a dynamic and entrepreneurial management team.”
Councillor Nick McDonald, Portfolio Holder for Jobs, Growth and Transport at Nottingham City Council commented: "Nottingham and its surrounding area has a strong track record of innovation in technical textiles and I’m delighted that PlayerLayer is continuing this tradition. This represents an exciting business with real potential for growth and I wish the team every success in the future. The Fund was set up to invest in growth companies like PlayerLayer and I would recommend that any Nottingham business with plans to expand contact Foresight Group.”
Professionals from the local community supported the transaction with Browne Jacobson providing legal advice to Foresight and Fraser Brown advising the Company. Mazars conducted the financial due diligence. HSBC provided additional working capital facilities.
For further information, please contact Ben Thompson, Foresight Group
email@example.com / 020 3667 8155
Notes for editors:
About Foresight Group LLP ("Foresight”):
Foresight Manages the £40m Foresight Nottingham Fund and 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 £2.1 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 £500k and £5m in management buy-outs, management buy-ins and growth capital investments in UK SMEs.