Latest fashion industry deals

Date: February 2024
Buyer: Carlyle, IMI
Target: Very
Business: Online Fashion Retailer
Value: £125m
Details: Liverpool-based company Very, owned by Barclays and known for its collaborations with celebrities like Michelle Keegan and Holly Willougby, has received a £125m investment from US investment firm Carlyle and UAE investment house IMI (International Media Investments). £85m of this, provided by Carlyle’s Global Credit arm, will be made available immediately, with the remaining £40m coming from IMI. Very has granted a floating charge over several of its group companies as security for the investment by IMI (with the same companies having been pledged as security for previous debt investments made by Carlyle). As part of the investment package, Carlyle and IMI will each be able to appoint a director to Very’s board of directors, and will bring their ‘deep network of relationships, industry expertise and capabilities’ to Very, while Very’s current non-executive chairman Dirk Van den Berghe will step down and be replaced by Aidan Barclay, as interim chairman until a new appointment is made.




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