Private equity house Key Capital Partners has bought a minority stake in contemporary furniture and home accessories retailer Dwell to help it with expansion plans.
The £5m investment will enable the retailer to open 33 high street stores in the next four years, taking its total portfolio to 52 by 2014.
Dwell, which turned over £25m in the year ended 31 January, plans to open five stores next year.
The retailer’s founder, Aamir Ahmad, said: “This capital injection from KCP represents the next milestone in Dwell’s development.
“The timing is perfect for expansion, both in terms of the lifecycle of the business and conditions in the commercial property sector, where pricing is currently extremely competitive.”
Dwell was founded in 2003 as a mail-order business and currently operates from 19 stores across the UK.
samantha.mcclary@estatesgazette.com
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