Wetsuit Outlet, a UK-based online retailer of technical clothing and equipment for water sports, received a £5m growth investment.
Mobeus Equity Partners provided the capital. In conjunction with the funding, Bob Henry of Mobeus will join Wetsuit Outlet’s board.
The company intends to use the funds to increase its market share in Europe, expand into the US, and take its online platform into equestrian and field sports verticals.
Led by Chief Executive Officer and Co-Founder Ian Homan, Chairman Peter Davies, Managing Director Paul Williams, Head of Buying and Merchandising Sally Bendelow, and Chief Financial Officer Jeremy Kraft, Wetsuit Outlet sells into over 160 countries offering premium brands such as Musto, Gill, Billabong, Rip Curl, O’Neill, GUL and Red Paddle and provides customer service, a software platform and end-to-end operation with delivery from stock.