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Online fast-fashion retailer Princess Polly Group and its founders have sold a controlling interest to an American private equity outfit.
Firm: Mills Oakley (with financial advisers Miles Advisory and MYMAX) (Princess Polly Group Pty Ltd); Norton Rose Fulbright (Summit Partners)
Deal: Princess Polly Group has sold a controlling interest in the company to US-based private equity firm Summit Partners.
Value: Undisclosed
Area: Corporate Advisory
Key players: The Mills Oakley team was led by partner Tony Lalor, who was assisted by senior associate Sam Bassingthwaighte.
Deal significance: Mr Lalor said that the transaction was a testament to the strength of the Princess Polly business.
“The shareholders were extremely happy with the result and are looking forward to the next stage of growth. We congratulate Princess Polly and Summit Partners on completing this transaction,” he said.
Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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Jerome Doraisamy
