Yorkshire-based investment firm Growth Partner, which is backed by HomeServe plc founder and CEO Richard Harpin, has completed a £3m investment into female-first outdoor brand, ACAI.
Growth Partner has taken a minority stake in the business as part of the deal, which will help ACAI to accelerate its growth plans in the UK and internationally.
ACAI’s previous investors, DSW Ventures will be exiting, having supported the business since October 2019.
ACAI was founded in 2016 by fashion designer and entrepreneur Kasia Bromley and her husband Joe. The couple have experienced exceptional growth with ACAI, doubling revenue each year since inception and growing the staff base from 4 to 25 over the last three years.
Investment into the management team this year has seen Joe step down as CEO and the recruitment of Richard Leedham (ex-Berghaus CEO and Pentland Group board member) into the role to lead the next phase of growth.
Kasia, whose design experience includes the likes of Alexander McQueen, saw a need for nnovation in women’s outdoor clothing. Frustrated by the existing attitude which was based on a male product which had been “pinked and shrinked.” Kasia created a brand with designs that are flattering and empowering to the female form while being stylish and technical in nature.
ACAI prides itself on an evergreen, sustainable ethos with timelsess design styles that are built to last, alongside technical characteristics such as being water resistant and thermal.
Following on from its flagship Skinny Outdoor trouser, the brand has expanded to include outdoor leggings, tops, accessories and recently launched its first jacket, hoodies and mid-layers. ACAI’s products are tailored for active women and are equally at home hiking in the hills, walking the dog or strolling in a park.
Kasia Bromley said: “My mission is to inspire more women to get outdoors to enjoy nature for their mental and physical wellbeing. Women deserve outdoor clothing which makes them feel great and performs to enhance their confidence. This investment will support ACAI to reach many more women.”
Growth Partner investment director James Worrall added: “The Outdoorwear market has experienced significant growth but is yet to be disrupted by a direct-to-consumer, female-first challenger brand. ACAI has successfully created a community of highly engaged brand ambassadors where ACAI is more than a product, it is a brand that is empowering women to be active outdoors. We’re excited to support them as they introduce the brand to more customers across international markets and via new sales channels.”
