Australian informal youth attire retailer Basic Pants Co has been purchased by Alquemie Group, the retail funding platform of private-equity firm Acta Capital.
Basic Pants Co CEO Sacha Laing will tackle the function of group CEO at Alquemie and present shareholders together with Victor Smorgon Group, Phil Staub and Jackie Vidor, have agreed to reinvest “a good portion of their proceeds” into Alquemie, the corporate stated in an announcement. Laing has beforehand held management roles at Colette, Nation Highway Group and David Jones.
Based in 1972, Basic Pants Co sells manufacturers together with Lee, Subtitled, Ksubi, and Tommy Denims via a community of 60 shops throughout Australia and New Zealand. The corporate will be a part of Lego Licensed Shops, Ginger & Good, SurfStitch and Pumpkin Patch in Alquemie’s quickly rising portfolio, with additional acquisitions deliberate.
Acta Capital founder and CEO Richard Facioni stated the acquisition offers Alquemie “important scale and breadth of operations” because it seeks to companion with “distinctive, like-minded administration groups to construct nice companies”.
“Basic Pants Co is very complementary to our present portfolio and positions Alquemie for continued development as we construct a number one multi-channel retail funding enterprise,” he stated in an announcement.
Laing described it as a privilege to affix Alquemie at a pivotal time and stated she was wanting ahead to working intently with Facioni.