Theo Fennell, the British jeweler currently in administration, has been scooped up by a founder-led buyout backed by a private equity firm.
The deal is reportedly worth 5 million pounds.
New owner Enact, a division of Endless LLP, says the sale will allow the jeweler, as well as its Chelsea retail flagship, to continue operating.
Fennell (pictured), who founded the once-public company in 1982, said in a statement he’s thrilled by the outcome.
Garry Wilson, who led the investment for Endless, added, “Theo plans to take the business back to its roots in Fulham Road providing unique pieces for its customers.”
(Image courtesy of Endless LLP)