Hutton Collins, a leading provider of preferred capital, has supported the acquisition of a majority interest in Wellington boot maker Hunter by Searchlight Capital Partners. Under the terms of the investment, Hutton Collins will provide £32 million of PIK and equity financing.
Searchlight's acquisition, backed by Hutton Collins, will provide valuable support to drive the expansion of Hunter into new markets and related products. The company has expanded its product offering in recent years into areas including leather boots and other footwear, knitted accessories and bags. Hunter's positioning as a heritage British brand, with a history dating back more than 150 years, has given it market-leading positions in the UK and US markets, and its products are today sold in more than 30 countries worldwide.
Hutton Collins has developed a flexible financing structure to support the acquisition that brings certainty against a backdrop of a troubled banking market.
Mauro Moretti, Partner at Hutton Collins, commented:
"Hutton Collins' ability to provide highly adaptable financing solutions despite wider debt market uncertainty clearly puts us in a good position to invest in the current environment. We are delighted to back Searchlight in the acquisition of this fast-growing brand in the next phase of its growth."
Fabrizio Zappaterra at Searchlight Capital Partners L.P. commented:
"We are excited to invest in such a unique and dynamic brand, and to be able to play a role in its development at such a critical point in its evolution. We look forward to our partnership with Hutton Collins in the years ahead."