2022

Aurelius has agreed to acquire Footasylum from JD Sports

Footasylum

Footasylum is a leading omnichannel retailer of fashion street wear and sports apparel in the United Kingdom, operating through a network of 63 stores and seven websites, in addition to integrated warehouse facilities. Today, the business sells a mix of footwear, apparel and accessories through physical stores, websites and a wholesale channel. Footasylum stocks several renowned third-party brands including Nike, adidas, The North Face and New Balance, which are further supplemented by a rapidly growing portfolio of owned brands, such as Zavetti Canada and Monterrain. Footasylum has been owned by JD Sports since 2019.

The Deal

Lincoln International acted as exclusive buy-side corporate finance advisor to Aurelius, working closely with the team to navigate and win a complex auction process under CMA oversight, providing deep market and sector insights, competitor intelligence and strategic advice throughout. Lincoln also provided debt advisory services to support Aurelius’ acquisition, delivering a comprehensive asset-based lending financing package to support the acquisition and the business going forward.

Our Perspective

Harry Kalmanowicz, Managing Director in Lincoln’s Consumer Group, commented, “It’s been a pleasure working with the Aurelius team on this successful transaction. The team undertook significant analytical work to get comfortable with the acquisition of a brick-and-mortar retailer in the current uncertain consumer environment, and back a business plan to unlock Footasylum’s potential. We look forward to witnessing its transformation by application of Aurelius’s expertise across retail, digital and wholesale channels and by strengthening Footasylum’s own brand portfolio. In Aurelius, Footasylum has found the perfect partner to support its next phase of growth.”

Xenia Sarri, Managing Director in Lincoln’s Capital Advisory Group, added, “We are pleased to have assisted Aurelius in securing a committed lending partner with a strong understanding of the retail sector to support the business in delivering on its growth plans. This transaction highlights the relevance of asset-based lending and continued appetite from lenders to support retail businesses with attractive credit fundamentals despite economic headwinds impacting the sector.”

Connect with a Senior Team Member
Lincoln's sector knowledge, process insights and debt advisory support proved instrumental in winning the auction and delivering an outstanding outcome for both Aurelius and the company.
Tristan Nagler
Partner at Aurelius

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