Growth investor Enterprise Ventures (EV) has acquired a minority equity stake in outdoor adventure brand Trekmates in an £8.7 million deal.

Growth investor Enterprise Ventures (EV) has acquired a minority equity stake in outdoor adventure brand Trekmates in an £8.7 million deal.

The firm, which invests up to £2 million in small and medium-sized enterprises (SMEs), backed the Nottingham-based business by taking an undisclosed minority shareholding. The business secured debt facilities from The Co-operative Bank in addition to the direct cash injection.

Trekmates designs, sources and supplies a broad range of outdoor clothing and accessories to more than 500 retailers both in the UK and internationally. Trekmates was founded in 1997 and is chaired by serial entrepreneur Chris Prentice.

Prentice comments, ‘We have achieved an enormous amount in developing our brand and markets over recent years and look forward to growing the business further alongside EV.’

The investment is the fourth transaction for EV’s Midlands office since it opened in late 2009.