Brachers advises luxury watch retailer Watchfinder on securing £6.18 million investment
Brachers is delighted to announce its role in advising specialist luxury watch retailer Watchfinder on the $10m (£6.18m) investment it has secured from growth equity firms Piton Capital and Beringea.
Brachers is delighted to announce its role in advising specialist luxury watch retailer Watchfinder on the $10m (£6.18 million) investment it has secured from growth equity firms Piton Capital and Beringea.
Maidstone-based online retailer Watchfinder specialises in high-end brands such as Rolex, Cartier, Tag Heuer and Omega, and has recently opened its first London boutique in the Royal Exchange shopping centre next to the Bank of England. The investment is intended to boost sales and double the retailer’s stock holding.
Corporate Partner James Bullock and Associate Matthew Simmonds from Brachers led the legal team on the deal, which is the latest example of high-level corporate advisory work being retained by market leading regional firms rather gravitating to the City.
Stuart Hennell, MD of Watchfinder said
“After considering a number of strategic options for the future, we are delighted to be taking on investment from Beringea and Piton, with whom we have a shared vision for the future. Their combined expertise in ecommerce, retail, and international markets should be a great asset."
“Brachers’ corporate team really demonstrated their expertise in private equity work. They were available 24/7, understood what was important to us as a management team, delivered excellent legal advice and always understood the commercial rationale for the investment. They are a great team and we’re happy they were on our side in the negotiations.”
James Bullock commented on behalf of Brachers’ Corporate team: “This is a game-changing deal for Watchfinder and it’s great to see Kent-based businesses like this attracting investment of this calibre. It has been a privilege to work so closely with the ambitious and successful Watchfinder management team on this complex transaction.”
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