Kurt Geiger secures new financing deal to fuel international growth
The retail business secured new funding facilities from Wells Fargo Capital Finance UK and UK-based private credit fund Blazehill Capital.
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Your support makes all the difference.Fashion brand Kurt Geiger has agreed a new funding deal to refinance its debt and invest in international growth plans.
The company, which was founded in 1963 and opened its first shop on London’s Bond Street, currently has more than 70 stores and 100 concessions in the UK.
On Tuesday, the retailer secured new funding facilities from Wells Fargo Capital Finance UK and UK-based private credit fund Blazehill Capital.
Kurt Geiger, which is owned by private equity giant Cinven, has increased its overseas presence in recent years and said it plans to use the cash injection to bolster its international arm further.
The combined facilities will provide significant flexibility to accelerate our expansion across North America and Europe
Dale Christilaw, chief finance officer of Kurt Geiger, said: “We found working with the Blazehill Capital and Wells Fargo teams seamless and easy.
“The combined facilities will provide significant flexibility to accelerate our expansion across North America and Europe. Big thanks to all involved.”
Tayyib Chowdhry, originations director of Wells Fargo Capital Finance UK, said: “We’re delighted to have provided an upsized credit facility to enable the team at Kurt Geiger to accelerate an already compelling growth trajectory, globally.
“We’re especially pleased to have structured a flexible financing solution at this exciting period when the business has such positive and sustained momentum.”
Jake Hyman, head of originations at Blazehill Capital, said: “Unlocking additional liquidity for such an established business is a great example of what we’re trying to achieve at Blazehill Capital.
“Kurt Geiger’s continued success is testament to an impressive management team with a dynamic approach to growth, and with this new funding package the company can now continue to expand its global footprint.”