Fox International is Europe’s leading fishing tackle brand.
Fox International is one of the leading providers of fishing tackle to the European coarse fishing market. The business is well established in the UK, Germany, Netherlands and France and is executing successfully on an expansion strategy across a range of other European markets. The business has a strong brand and is appreciated by retailers and consumers alike for its product innovation and high levels of post-sales service.
Next Wave acquired Fox in 2014 from the founding Family owners at an enterprise value of £31m and partially exited in late 2015 in a secondary management buy-out at an enterprise value of £55m. This returned more than three times our investment at an IRR of more than 150%. Next Wave introduced high standards of governance and internal procedures, along with guiding wholesale improvements in business information, systems and process controls and management reporting; as well as supporting the business’s online sales strategy driving EBITDA growth of 30% under our ownership. Next Wave funds retain a significant minority shareholding and board representation and the business continues to grow strongly.www.foxint.com