Adanola founder considers stake sale to fund growth

Drapers understands Adanola has appointed advisers at skilled companies agency PwC to search out potential buyers to speed up its progress plans.

Tom Copeland, companion of company finance at PwC, is believed to be main the sale course of. Copeland beforehand suggested Gymshark on its minority stake sale to non-public fairness agency Normal Atlantic in 2020, which valued the model at greater than £1bn.

Proprietor and founder Hyrum Prepare dinner arrange the ladies’s health model in 2015 and it has been on an upwards trajectory.

The enterprise greater than doubled its income and pre-tax revenue to £57.1m and £18.9m respectively within the 12 months to 31 March 2024. It was ranked seventh on the Sunday Instances’ record of Britain’s 100 fastest-growing non-public firms in July.

The model’s provide consists of gymnasium equipment necessities from sports activities bras to its signature £39.99 Final Leggings, alongside hoodies and informal outerwear.

Final April, Adanola appointed Niran Chana, former Gymshark’s chief business officer, as CEO, to guide its worldwide growth. He performed a pivotal position in Gymshark’s cope with Normal Atlantic.

Adanola and PwC each declined to remark.