London – The time is money.
Luxury watchmaker Bremont has announced that billionaire hedge fund manager Bill Ackman has purchased a minority stake in the watchmaker, along with the company’s longtime lead investor Hellcat LP.
The investor funding round totals $59 million.
“This new capital will allow us to invest in marketing, distribution and people. and we are delighted to continue the history of British manufacturing and innovation through Bremont’s global growth.” Brother Nick.
The Wing in Henley, South East England.
Courtesy of Bremont
In a statement, Ackman praised Bremont’s “beautifully designed, technically sophisticated and rugged timepieces” and the brand’s “aviation and military history”. It is from his own funds, not from his management company, Pershing Square Capital Management.
The investment comes in a timely fashion, 18 months after Bremont opened its 35,000 square foot manufacturing and technology center, The Wing, in Henley, in the South East of England, marking the company’s first ” It became a company that manufactures mechanical movements. on the coast of England. The facility is reported to have cost him £20 million.
The brand revealed a 28% increase in annual revenue in its most recent fiscal year due to the opening of The Wing and new boutique openings.
Further changes are underway in business. Managing Director Chris Reynolds was promoted to Chief Operating Officer “to support and enable the addition of a new CEO.” Bremont hired his recruitment agency, Egon Zehnder, to help him find talent.
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