26 March 2019
Funds advised and managed by YFM Equity Partners (“YFM”), the specialist private equity fund manager have backed a significant investment into Frescobol Carioca Limited (“Frescobol”).
YFM’s investment comes from its two advised VCTs, British Smaller Companies VCT plc and British Smaller Companies VCT2 plc.
Founded in 2013 as the brainchild of friends Harry Brantly and Max Leese, Frescobol’s roots lie in their Brazilian heritage and travel experiences which are reflected in a range of luxury men’s swimming trunks and resort wear that references and brings to life the Rio beach lifestyle. Growth in recent years has been rapid, now with over 200 stockists in the world’s most exclusive boutiques including Harrods, Mr Porter, Matches & the One & Only resorts, bespoke collaborations with major luxury resort operators such as Aman Resorts, three retail locations and growing online sales to a global customer base.
YFM’s funds will be used to support the continued growth of the business, especially focussing on furthering the global customer base, developing ecommerce opportunities and investing in additional resource to build on the brand’s growing reputation.
Charlie Robinson and Adam Hart led the investment for YFM. Adam Hart commented:
“Harry and Max have done a fantastic job in building a leading brand in the sector from a standing start in a very short space of time. Their vision for the business is exciting and we look forward to bringing our experience in supporting young fast growth companies to deliver the next phase of development of the company. We are particularly attracted by the global appeal of the products and believe Frescobol taps into an increasing interest in luxury travel and lifestyle. We are excited to be part of the Frescobol team.”
Harry Brantly, co-founder of Frescobol, added:
“Max and I are delighted to have YFM on board for this next stage in our growth. Their track record in supporting SMEs is stellar and throughout the process we have felt a strong sense of collaboration and genuine desire to do what is best for the future of the brand. We look forward to sharing the journey with YFM with particular thanks to our YFM team Charlie Robinson, Paul Cannings and Adam Hart.”
YFM’s legal advice was provided by Nina Searle at TLT LLP, Digital Due Diligence by Becky Jasper of more2, and Organisational Review by Anna Cornwallis of Stratton HR.
Andrew Jakins and James Black of Highstead acted as financial advisors to Frescobol Carioca, and Patrick Martin of PTM Law provided legal advice.