// Dr Martens owner Permira joins bidding war for Gymshark stake
// Other firms looking to make a bid include Inflexion Private Equity, General Atlantic, TSG Partners & L Cattertonare
// Gmshark is understood to be planning a £1 billion valuation via a minority stake sale
The private equity owner of Dr Martens has reportedly joined the list of investors looking to snap up a stake in online sportswear retailer Gymshark.
Gymshark, whose growth in recent years has made its founder one of the UK’s wealthiest under-30s, is understood to be planning a £1 billion valuation via a minority stake sale.
According to Sky News, Permira has joined the bidding war for the minority stake alongside Inflexion Private Equity, General Atlantic, TSG Partners and L Cattertonare.
The sale process for the minority stake in Gymshark is being run by PwC.
Should a deal go ahead, it would be the first major external investment for the online retailer.
Ben Francis founded Gymshark when he was 19.
Now 27, he owns around two-thirds of Gymshark’s current shares and his wealth is valued at around £138 million.
Gymshark had opened its first ever and longest-standing pop-up store in London just weeks before the coronavirus lockdown came into place in late March.