The management of clothing retailer Weird Fish has led a secondary management buy-out from investment firm Piper.

The partial buy-out is being funded by Total Capital, which is providing a combination of equity and debt funding and will own 70% of Weird Fish.

The Cheltenham-based retailer will use the funds to grow its online sales, open new stores in holiday locations around the UK and expand its product ranges.

Weird Fish has 12 stores and 13 concessions around the UK. Revenues rose 25% over the last two years, reaching £18m in 2016.

Total Capital partner Paul Brown, who will join the Weird Fish board, said: “As rival brands have moved towards the high street and mainstream fashion, Weird Fish remains focused on its active leisure roots and maintaining its presence in popular UK holiday destinations.

“The brand has a loyal and rapidly growing following and we are excited about the future growth prospects, particularly as we invest further in the digital channel.

“Weird Fish is in a strong position to take advantage of the current trend towards active and outdoor lifestyles.”

Lifestyle brands are a sweet spot in the current challenged clothing market with retailers such as Joules and Ted Baker performing particularly well.