Isis Equity Partners, the UK lower mid-cap private equity firm that has just raised £360m, has finished up its previous fund by investing in shoe maker inov-8.
The company, set up in 2003 by Wayne Edy, makes shoes for off-road running and saw sales grow by 130 per cent in its last financial year. It expects international growth to exceed 50 per cent year on year.
Since 2009, inov-8 set up a marketing hub in the Lake District and an office in Boston. The business now employs 44 staff, 17 of which were hired in the last year.
Mark Advani and Adam Holloway, who previously held board seats at cycling online retailer Wiggle, led the deal for Isis.