Lion Capital is said to be one of the candidates to the takeover of Kurt Geiger, that high-end British fashion shoe retailer, at a price of around £250 million (€338.6m-$379.4m), which would be close to about a year's worth of its estimated sales. Lion Capital is the private equity firm that invested in Jimmy Choo and then cashed out in 2007 for about 70 percent more than it had originally paid.
According to Sky News, L Capital, the investment fund controlled by LVMH, and another institutional investor, Advent Capital, have also expressed interest in Kurt Geiger.
Kurt Geiger saw its operating earnings jumped by 288 percent to £11.2 million (€15.1m-$17.2m) in 2014, as sales went up to £251 million (€339.0m-$385.6m) from £133 million.
Founded in 1963 and positioned in the high end of the shoe market, Kurt Geiger operates more than 70 stores and various department store concessions in the U.K. and other countries, as well as an online store. At the end of last year, it had a staff of 1,805 worldwide.
The former Jones Group, owner of Nine West, had bought Kurt Geiger in 2011 for $350 million including debt. Sycamore Partners, which bought Jones in the spring of 2014, subsequently sold its stake in Stuart Weitzman to Coach and helped Kurt Geiger's long-time chief executive, Neil Clifford, to organize a management buyout.
Earlier this year, Goldman Sachs was reportedly hired to look for strategic alternatives, for Kurt Geiger, including a possible sale of the company to another investor at a price that would value it at around £300 million (€406.3m-$455.3m).