1.80%3 years after END. was purchased by The Carlyle Group, the private equity group Apollo Global Management has now acquired the Newcastle born luxury retailer.
Founded back in 2005 by Christiaan Ashworth and John Parker, END. has built its highly respected reputation through in its own words “globally sourcing menswear”. From working with some of the most world renowned names in the streetwear & sneaker game, END. has built a global following from emerging designers to the most hyped sneaker releases. Back in 2021, The Carlyle Group purchased a majority stake in END. valuing the luxury retailer at £750 million. The deal in 2021 was financed by the private equity group Apollo Global Management (APO). Apollo have now acquired END. in a agreement from lenders and shareholders to recapitalise the business.
Sp who are Apollo Global Management? Apollo Global Management is an American asset management firm that primarily invests in alternative assets. Based in New York City, the company was founded in 1990 by Leon Black, Josh Harris, and Marc Rowan who were all former investment bankers at Drexel Burnham Lambert. In 2022 the company had $548 billion in assets varying in hedge funds, loans & real estate. In 2011 the company went public with its first IPO and recently acquired 90% of Yahoo, the Italian gaming business International Game Technology as well as the Restaurant Group in 2023 which owns Wagamama & Barburrito.
The investment from Apollo will help reduce the business’ debt, allowing it to further strengthen its balance sheet and forward cash flow as we look to reach our next stage of evolution as a brand. This transaction will allow us to reinvest in the team and execute our business plans. Our focus remains on curating the right products, deepening our connections in the community and enhancing operations, to remain a leading fashion destination.
Parker Gundersen, chief executive END. Clothing
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