TLT advises on sale of iconic British clothing retailer

UK law firm TLT has advised the well-known clothing and accessories company Weird Fish on its acquisition by owner Total Capital Partners (TCP) as part of a continuation fund to expand its operations and build on improved financial performance.

Weird Fish is a British lifestyle clothing and accessories brand which operates 38 stores around the UK, as well as 72 concessions and online.

The new fund, named Auralis, creates a robust acquisition platform to pursue strategic growth opportunities with a focus on acquiring undervalued retail businesses and brands to build a broader, active and lifestyle-oriented retail portfolio, with Weird Fish being the first such acquisition.

It will also allow Weird Fish to continue to build on recent financial and operational improvements, and further expand its presence and brand profile, having recently posted record results for the first half of the financial year.

TLT advised the seller group on all aspects of the sale. The team was led by Elizabeth Delaney, Corporate Partner, with support from Kirsty Wilson, Senior Associate, Harry Jenkins, Associate and William Ngan, Legal Director.

Elizabeth Delaney, Corporate Partner at TLT said: “The retail sector continues to be highly competitive but also presents exciting opportunities for brands with a clear identity and strong foundation. Weird Fish has demonstrated robust financial and operational performance in recent years, and this deal marks a pivotal moment in its growth journey. “We’re proud to have supported the team on this transaction and look forward to seeing Weird Fish thrive in its next chapter.”

Auralis and Weird Fish CEO David Butler said: “Given the current challenges in the retail sector, many UK businesses have struggled to invest or find buyers. By bringing together underinvested brands, we aim to unlock greater value through integrated operations than they could achieve alone.

“TLT provided exceptional support throughout the transaction, guiding us with clarity and confidence at every stage. Their deep sector expertise and collaborative approach made a real difference, helping us navigate a complex process and positioning Weird Fish for its next phase of growth.”

Other parties involved in the transaction included Alvarez & Marsal (corporate finance adviser to the seller team), Hazelwoods (providing vendor financial due diligence), BDO (tax structuring), KR8 Advisory (advised on funding), Doyle Clayton (management advisory), Walker Morris (acting for the buyer), Shawbook (incoming lender), and Shoosmiths (acting for Shawbrook).