Wool and the Gang sold to Lion Capital

DMC Group, a portfolio of European brands in the needlecrafts space, including Wool and the Gang, has been acquired by private equity firm Lion Capital from BlueGem Capital Partners.

The group comprises French embroidery brand DMC, whose Mouliné stranded cotton thread remains the world’s favourite embroidery thread, selling over one million skeins every single day; Wool and the Gang, a fast-growing online DIY fashion brand; Sirdar, a UK firm of hand-knitting yarns established in 1880; and Tilsatec is a leading British brand of high-performance yarn and finished protective glovewear.

With a London head office, the DMC Group generates over 90 million euros in sales across more than 100 countries in 2018. It was formed by BlueGem in 2016, and expanded with the addition of Wool and the Gang and Sirdar in 2017.

“We are proud of the rapid and significant business improvements that have been achieved at The DMC Group. Thanks to the team’s work, The DMC Group is now the undisputed market leader in an attractive and resilient niche,” commented Marco Capello, founder and managing partner of BlueGem. “There remains substantial potential for growth within the company, and we are happy to hand it over to Lion Capital."

“BlueGem have been highly supportive partners in the formation and development of The DMC Group. From these strong foundations we look forward to the next phase of growth with Lion Capital, who share our excitement for the future and have the experience to help us continue to grow and optimise our portfolio of iconic needlecraft and technical yarn brands,” added Justin Wraight, CEO of The DMC Group.

Lion Capital has also previously backed well-known brands including Jimmy Choo, American Apparel and La Senza, and its portfolio currently includes AllSaints, Buscemi and Authentic Brands.

Wool and the Gang sold to Lion Capital

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