Joules fashions a 2.4x return for LDC on AIM

Endaba Group

Joules has raised gross proceeds of $77.5m following its IPO on AIM! The British fashion brand is backed by LDC and the £140m listing generated a gross capital gain of £53m for the private equity house, representing a 2.4x return on its initial £22m investment in 2013. Following the IPO, LDC has reinvested for a 7% holding and the brand are preparing for expansion by opening more stores in the UK and Ireland. For LDC, this is the 5th recent flotation, and brings total exit proceeds to £800m in the last 18 months!