A well-known Gloucestershire-based lifestyle leisure brand is the subject of an important announcement today.

Total Capital Partners, a deal-by-deal general partner that provides combined equity and debt funding for SMEs in the UK, has announced that it has funded a secondary management buyout of Weird Fish from Piper, a leading specialist investor in consumer brands.

The terms of the transaction were not disclosed.

In line with its differentiated approach to funding SMEs, Total Capital will provide a mix of equity and debt funding to Weird Fish and will hold a 70 per cent stake alongside management who are reinvesting in the business.

This investment follows Total Capital's recent expansion of its partner team to strengthen its position in the north of England, its strong exit from home decoration supplier Arthouse in October 2015 and the successful realisation of its 2006 fund.

The Weird Fish brand is positioned in the rapidly growing lifestyle segment of the clothing market, which is forecast to grow at around seven per cent per annum to almost £4billion by 2020.

Weird Fish, based in Cheltenham, operates a multi-channel sales model comprising wholesale, retail and online operations.

Its retail operation currently comprises 12 stores and 13 concessions based in popular UK holiday destinations.

The business generated revenues of over £18million in 2016, representing a 25 per cent increase in just two years.

With the support of Total Capital, Weird Fish intends to build on the recent success of its brand, with online being the fastest area of growth.

It will also open new stores in selected UK holiday locations and further expand its product range.

Total Capital Partners Natalie Eastham and Paul Brown led the deal.

Mr Brown, who will join the board of Weird Fish, said: "It is great to be working with MD John Stockton and the Weird Fish management team who have a proven track record of building successful retail business in the premium leisurewear space, the fastest-growing segment of the UK clothing market.

"As rival brands have moved towards the high street and mainstream fashion, Weird Fish remains focused on its active leisure roots and maintaining its presence in popular UK holiday destinations.

"The brand has a loyal and rapidly growing following and we are excited about the future growth prospects, particularly as we invest further in the digital channel. Weird Fish is in a strong position to take advantage of the current trend towards active and outdoor lifestyles.

"his makes it the right time for the business to expand, with fresh funding and the support of a new growth partner behind it."

John Stockton, managing director of Weird Fish, said: "We are extremely grateful to Piper for their efforts and expertise in helping to develop Weird Fish into a formidable multi-channel operator.

"With Total Capital's support, we look forward to maintaining our rapid pace of growth across all parts of our business, enhancing our product range and sales channels to best meet the needs of our loyal customer base who value comfortable, relaxed and fun clothing.

"This secondary buyout marks the next stage in our development and it was therefore important to us that Total Capital could tailor their financing package to our specific needs, creating the right capital structure to support our future growth plans."

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