London/Edinburgh, 16 December 2011 – Hunter Boot Limited (“Hunter”), the owner of the iconic Hunter brand, is pleased to announce that Searchlight Capital Partners L.P. (“Searchlight”), through an affiliate company, is to become the new controlling shareholder in Hunter alongside the existing shareholders, who will retain a significant investment.
Commenting on the investment, Peter Mullen, Chairman of Hunter Boot Limited, said: “Hunter is enjoying great success and the brand continues to go from strength to strength. This transaction and future support from Searchlight will help us to capitalise on the growing demand for Hunter-branded products as we look to increase our presence in existing markets and expand in new regions around the world. Furthermore, the partnership with Searchlight will provide us with the solid foundation we need to continue to drive growth throughout our business.”
Oliver Haarmann, Partner & Co-Founder, Searchlight Capital Partners L.P., said: “Hunter is exactly the kind of high quality investment opportunity that we are looking for. Hunter is an iconic brand with excellent growth potential and we look forward to working with the company‟s management to drive further growth from product line extensions and geographic expansion.”
Searchlight will provide valuable support to drive the expansion of the Hunter business into new markets and related products. Hunter products are currently sold in over 30 countries around the world. The well-loved Hunter boot has loyal followers ranging from royalty to festival goers, from fashionistas to farmers and country sports aficionados.
Notes to Editors:
The origin of the Hunter „welly‟ dates back over 150 years, with the highly popular Argyll first being produced prior to the Second World War. With offices in London, Edinburgh and New York, Hunter now sells a wide range of other footwear in addition to outdoor products including bags, socks and related accessories. Hunter is a holder of two Royal Warrants. At the year-end 31 December 2010 the company reported a turnover of £56m and profits of £16m.
About Searchlight Capital Partners
Searchlight Capital Partners L.P. is a private investment firm operating in North America and Europe. Searchlight was founded in 2010 by senior partners from industry-leading investment management firms with significant investment experience in a wide range of industries in North America, Europe, and Asia. Searchlight invests in a wide range of industries including consumer, media, communications, information services, business services and financial services. Searchlight‟s professionals have invested in more than 40 companies in over 15 countries. Searchlight Capital Partners L.P. is registered with the Financial Services Authority (FSA) for its activities in the UK and EU.