Total Capital Partners (TCP), a London-based investment firm, has significantly increased its stake in the omnichannel lifestyle brand Weird Fish, valuing the company at £35 million ($46 million). This move represents a strategic step as TCP increases stake in Weird Fish from 69% to 80%, granting the firm full decision-making control and the ability to pass special resolutions regarding the company’s operations.
The integration of Weird Fish into Auralis, a new group formed by TCP, comes as the firm prepares to launch a £50 million fund aimed at acquiring additional high street brands. Leadership of Auralis will continue under David Butler, who currently serves as the chief executive of Weird Fish.
Butler expressed that Auralis aims to focus on retailers perceived as “limited in their abilities to invest in their own businesses.” Notably, TCP has no plans to pursue distressed acquisitions or retailers facing insolvency.
“There was nothing in the P&L [profit and loss] that would suggest that’s not feasible,” Butler remarked regarding Weird Fish’s plans for ongoing expansion.
Based in Tewkesbury, England, Weird Fish operates a total of 36 stores across the UK and markets its products through direct retail and wholesale channels. Retailers such as Tu, owned by Sainsbury’s, and Debenhams, stock its offerings.
According to the latest financial disclosures, Weird Fish recorded revenues of £42.6 million in 2024, which reflects a year-on-year increase of £4.4 million. The business also saw pre-tax profits rise from £1.3 million to £2.9 million within the same period.
David Butler joined Weird Fish as its chief executive in 2023, following a successful seven-year career leading Crew Clothing. Since then, Weird Fish has embarked on an expansion phase aimed at growing its retail presence and strengthening its market position. Butler has previously indicated aspirations to expand the store network to between 80 and 90 locations in the upcoming years.
TCP’s involvement with Weird Fish began in 2017 when it acquired a majority stake from Piper Private Equity through a secondary management buyout. Since then, TCP has been a lead investor, facilitating operational changes and growth initiatives for the brand.
Weird Fish maintains a strategic presence in various regional and coastal towns throughout the UK, with retail locations in Southwold, Whitstable, Lyme Regis, and Weymouth, among others. As TCP increases its stake in Weird Fish, the brand is poised for further development and growth within the retail sector.
