Nature of Business
Sheffield-based GO Outdoors is the UK's largest specialist retailer of camping equipment, tents, outdoor clothing and footwear. Since its establishment in 1998, the company has grown to 49 retail outlets across the UK with c.1,800 employees. In the year to January 2014, GO Outdoors achieved total sales of over £200 million, boosted by a fast-growing online capability.
The management team has delivered rapid growth for GO Outdoors in recent years, through a strategy of locating its stores in large out-of-town locations and offering an authoritative range of products at highly competitive prices. The company plans to continue its aggressive store opening programme over the coming years.
To support these plans, we have recruited blue chip retail experience in key roles on the board, to support the founder entrepreneurs, Paul Caplan and John Graham. This culminated in the appointment in 2013 of Chris Matthews as CEO, after an impressive career at Marks & Spencer and Dixons.
We invested £28m for a minority stake in GO Outdoors in April 2011. We are working with the GO Outdoors management team to drive growth through its differentiated business model. This includes new store rollouts and an expanding e-commerce business, to take market share and create a 'category killing' retailer.
We have also been active in supporting investment in the company’s infrastructure. In particular, our experience in supply chain transformation and our network in Asia has helped GO Outdoors establish an in-house own brand capability and a sourcing office in Shanghai. Most recently, our financing expertise helped the company secure additional debt facilities to support continued store roll-out.
Through our Business Leaders Network, we strengthened the Board by appointing Colin Holmes as Chairman. Colin joined after a long and successful career at Tesco, where he led the expansion of the superstore and convenience stores businesses, before delivering transformational change in the supply chain for fresh produce.
Regulatory notice: This transaction involved a recommendation of 3i Investments plc.
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Private Equity Team
Private Equity Team
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