Dubai investment firm JMH Lifestyle has bought luxury tailoring business Kilgour from owner KFS Group for an undisclosed sum, according to Mark Davis, head of private equity at JMH’s legal advisory Taylor Wessing, which unusually sourced the deal.
Davis said: “We brought both parties together through existing client relationships and so effectively we brokered the deal.” Davis said growth in the luxury sector not driven by market conditions which is divorced from present market conditions due to the growth in the number of high net worth individuals in the UK and worldwide.
Kilgour is a tailor on Savile Row, the London street famous for selling bespoke suits and luxury garments.
JMH Lifestyle has been specifically set up to acquire and develop brands in the luxury sector. This is its third investment to date. Its parent company JMH is an investment firm which has until two years ago specialised in the chemicals industry. JMH’s previous luxury acquisitions are shooting company Ray Ward Gunsmith, bought last year, and stables Uplands Racing in 2006.
JMH is best known for its acquisition of construction chemicals company Fosroc International from UK oil company BP in 2002.
Middle Eastern firms have made several acquisitions in fashionable London businesses including the Abu Dhabi Investment Authority’s property arm Tasameem’s acquisition last month of luxury Chinese restaurants Hakkasan and Yauatcha for $60 million (€41 million).
Taylor Wessing advises JMH Lifestyle on all its transactions.