3i pays £28m for stake in Go Outdoors

The listed buyout business bought existing and new shares in the group to take a “significant minority stake” in a transaction first revealed by the Yorkshire Post.

The founders, management team and existing investor YFM will continue to hold stakes in the business, which sells camping equipment, outdoor clothing and footwear.

Paul Caplan, president, and John Graham, managing director, said in a joint statement: “Go Outdoors is a fast-growing company with ambitious plans for the future. We can now extend our presence in the UK market through new store openings and further growth within our existing stores.”

The company was founded in Sheffield more than 40 years ago. It opened a second store in 2004 and by 2008 had grown to seven outlets. Go Outdoors then went through a period of rapid expansion, opening another 23 outlets, helped by Britons choosing ‘staycations’ over foreign holidays and falling commercial property prices.

Go Outdoors, which has four stores in Yorkshire, plans to open another 70 over the next four years. The new injection of funding will help realise this ambition.

Lawyer Yunus Seedat, of Addleshaw Goddard, advised 3i on the deal. He said the acquisition would help an “exciting, market leading business grow and develop”.