Travers Smith LLP has advised TA Associates (“TA”) on the sale of its interest in Cath Kidston to Baring Private Equity (“Baring”).
Travers Smith advised longstanding client, TA, and other selling shareholders in 2014 on Baring's initial investment in Cath Kidston. This latest acquisition makes Baring the majority shareholder, while founder Cath Kidston and senior management retain a stake.
Travers Smith has recently advised TA on the sale of CMOSIS, the Belgian image sensor company, to ams AG for €220 million in 2015 and on its investment in Flashtalking Limited, a high growth international advertising technology company in 2013.
The Travers Smith team was led by head of private equity, Paul Dolman, and supported by senior private equity associate Alex Dixon and corporate associate Alexandra Elkins. Finance advice was provided by finance partner Donald Lowe, supported by senior counsel Matt Smith and associate Safa Choudhury.
Cath Kidston, the British homewares and fashion brand known for vintage-inspired floral prints, began as a small shop in Holland Park, London. It currently has 226 stores, with 70 per cent located outside Britain. Japan is now the brand’s second biggest market and it has plans to launch in Latin America and India.