New Weird Fish owner plots acquisition spree

Total Capital Partners (TCP), which has held a controlling stake in the high street label since 2017, has created a new buy-and-build holding company Auralis, which has acquired Weird Fish.

TCP said the new firm was backed by a “substantial acquisition facility” that will allow the Weird Fish team “to pursue strategic acquisitions of complementary retail brands”.

The retailer’s chief executive David Butler will head up Auralis alongside his current role.

Weird Fish enjoyed a record first half this year and is on track to deliver “a substantial uplift” in EBITDA, building on the £5.4m it delivered the year before.

The retailer, which has 32 stores across the UK, said the increased investment will allow the business to expand its omnichannel presence and brand profile further.

Butler said: “In light of current market dynamics in the retail sector, many UK businesses have been limited in their abilities to invest in their own businesses, while shareholders have struggled to find a home for their brands and businesses.

“Weird Fish is now well-positioned to continue to improve profitability and with this additional money, it will enable us to accelerate our growth plans. 

“By building Weird Fish into a strong standalone business, it will serve as a foundation for our team to apply our proven strategy of selectively targeting under-invested but loved brands that have a strong product-market fit but suffer from operational inefficiencies or limited scale.

TCP managing partner Natalie Eastham added: “It’s been eight years since we invested in Weird Fish and during that time it’s grown from a primarily wholesale business posting modest earnings and revenue growth to one which is recording results and expanding its omnichannel presence. 

“When the opportunity came to take the business to its next stage of growth, we wanted to be part of that journey and we are excited about the growth opportunities that lie ahead with Auralis and this experienced management team.”