Our Private Equity Investment Thesis

Since investing in The Cotswold Company in 2016, we have worked closely with management to transform a little-known bedroom furniture retailer into one of the UK's most recognised "whole of home" brands.

The initial phase of investment focused on building brand awareness and broadening the product range beyond its core bedroom heritage into living, dining, upholstery and accessories - establishing The Cotswold Company as a genuine whole-of-home destination.

Alongside this, we strengthened the leadership team with the appointment of a new CEO and senior management team, bringing the experience needed to scale the business through its next phase of growth.

This has been matched by a step-change in the way customers can shop the brand: from just two showrooms at the time of investment, the estate has grown to >20 showrooms (and counting), complemented by a growing concessions footprint and multi-retailer partnerships - building a true omni-channel proposition that meets customers wherever they choose to shop.

Management's focus on the brand's customer-led proposition is reflected in a consistent "Excellent" Trustpilot rating and a market-leading NPS score

Revenue has grown ~4x and EBITDA ~8x since acquisition, representing a c.15% revenue CAGR over ten years - growth that has supported the creation of >250 jobs. This reflects strong and consistent organic growth, built on a sustainable, capital-efficient model – achieved without any use of financial leverage.

With significant UK whitespace remaining and a clear medium-term growth roadmap, this foundation underpins our continued confidence in the business.

Our approach remains focused on patient capital, and we remain fully committed to the long-term development of The Cotswold Company and its continued trajectory as one of the UK's leading home furnishings brands.