Independent private equity house, Key Capital Partners (“KCP”), has demonstrated its ongoing support for portfolio company, Fly53, with a £1m follow-on investment in the fast-growing street fashion business.
Since KCP backed the £3.6m buy-in management buy-out (BIMBO) of Worcester-based Fly53 in March 2009, the company has increased online sales revenues by 200 per cent, and recently recorded a year-on-year uplift in Spring/Summer wholesale sales of more than 20 per cent. In the past two months Fly53 has opened four more concessions outlets in House Fraser, bringing the total to seven.