Specialist debt investors, Permira Debt Managers, will have direct lending fund Permira Credit Solutions II is acting as sole lender in the financing of the acquisition of France-based sports equipment online retailer Private Sport Shop by Bridgepoint Development Capital.
The company provides a proposition as privileged partner for brands offering exclusive deals for its members. With eight million members, it has an extensive, recurring and profitable customer base generating a strong lifetime value.
Roy Awad, investment director at PDM, said: “Private Sports Shop is a successful online sports retail business that has a robust business model and a leading market position, with strong barriers to entry.
“We are delighted to back new owners Bridgepoint Development Capital and provide long-term financing to the company in order to ensure a successful next phase of growth.
“This transaction is consistent with our investment strategy based on partnering with high-quality European mid-market companies that are looking to grow and diversify their capital sources”
The Private Sport Shop business model is underpinned by strong fundamentals, benefitting from sports goods markets, structural and growing share of excess inventories and increased penetration of e-commerce.
DLA Piper acted as legal advisor to Bridgepoint Development Capital while Jones Day provided legal advice to Permira Credit Solutions II in connection with the financing.