05 May 2022: Soho Square Capital LLP (“Soho Square”), an investment firm focused on serving the financing needs of established and growing UK and European SMEs, has invested in and partnered with the rapidly growing leading publisher, distributor and luxury retailer of contemporary fine art Clarendon Fine Art (“CFA” or “the Group”). The deal sees Soho Square take a minority stake in the Group with David Steel, Director at Soho Square, joining the Board of Directors.
This investment will enable the management team of Clarendon Fine Art to continue with their ambitious rollout plans across the UK and beyond, expanding the scale and reach of the group, bringing contemporary fine art to new markets.
Clarendon Fine Art was founded in Lichfield by Helen Swaby over 25 years ago and is now among the UK’s fastest growing luxury retail groups with over 80 galleries that showcase an unrivalled range of contemporary art, as well as many important and influential names from the 20th century. The breadth of artistic talent within the portfolio is unrivaled in both style and appeal to clients.
In recent years, the Group has experienced rapid organic growth which has been driven by its highly motivated and passionate management team, successful gallery rollout, exclusive portfolio of hugely talented artists, and experiential and inspirational customer journey.
CEO and founder, Helen Swaby, remains the majority shareholder alongside an experienced and incentivised management team.
Helen Swaby, CEO and founder of Clarendon Fine Art, commented:
“I started the company determined to tackle the elitism that dominates the world of art and to change the perception that contemporary art was for the chosen few. 25 years later, we have 80 beautiful boutique galleries across the UK as well as on board ocean liners in partnership with Cunard, P&O and Holland America where we’re able to make art acquisition for our clients a very accessible and enjoyable experience. The business is totally committed to a joyful customer experience irrespective of whether the client is a relative newcomer to the world of art or an established collector. The growth and the success of the business has been driven by our superior range of original works and fine art editions from highly regarded contemporary artists alongside a hugely dedicated, loyal and passionate team of people working within every sector of the business.
“Soho Square’s investment is the next step in further expansion including overseas gallery opportunities and improved online services.”
David Steel, Director at Soho Square Capital, commented:
“De Montfort Fine Art is a clear disruptor within the art market. Having built up its exclusive, high-quality artist under management portfolio of content over decades in combination with its unique position as the world’s largest network of owned galleries, the Group is truly opening up new markets for fine art. Helen has built an incredibly impressive business from scratch and has assembled a high-quality team throughout the business. We are excited to be backing and working with this high-energy, forward-thinking team. Our investment in De Montfort, which sits senior in the capital structure, is typical of the type of investment that Soho Square is pursuing in the UK and northern European markets.”
Soho Square’s deal team was led by David Steel (Director) and James Jervis (Associate). Soho Square’s legal advisor was K&L Gates (James Cross). CIL provided commercial due diligence (Tabitha Elwes) with Grant Thornton providing financial and tax due diligence (Carl Parker and Lucy Orhnial). Alantra (Bobby Fletcher) identified Soho Square as a strong investor partner for the Company, providing corporate finance advice post deal introduction. Gateley PLC (Paul Haywood) provided De Montfort with legal counsel throughout the transaction.
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About Soho Square Capital
Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and European SMEs. Headquartered in London, the firm is led by a highly experienced team that has been investing together for over 15 years, through many economic cycles and have the expertise and flexibility to invest up to £45 million in any given transaction, across the capital structure, from senior debt to equity. The team works closely with business owners and management teams to structure innovative, bespoke financing solutions and offer enhanced portfolio company support.