Dutch fashion brand Suitsupply has borrowed 35 million euro from American investor H.I.G. Whitehorse so that it may finance its international expansion, among other things.
One of those other areas is to support the management buy-out. Founder Fokke De Jong now controls 100 % of Suitsupply's stock once again, news that was revealed last week.
"Suitsupply is a very successful men's clothing retailer with a unique market position and huge potential for future growth. We are very happy to offer management an adjusted financing solution to acquire full control of the company", H.I.G. Whitehorse's managing director Haseeb Aziz said about the loan.
"H.I.G. Whitehorse had thoroughly analyzed our activities and understood our plan to grow and it also understood the market. This creative financing solution will help grow our business in the United States, Asia and Europe," CEO and founder Fokke De Jong added.