Emerisque Brands, a specialist, growth-oriented private equity sponsor based in Mayfair, has announced that Steve Back has joined the firm as an Operating Partner.
Back’s initial focus is assisting the executive management of the firm’s Italy-based fashion portfolio, consisting of MCS Group (MCS menswear) and Industries Sportswear Company S.p.A. (Henry Cotton’s, Marina Yachting, Coast Weber Ahaus and the licensed brand 18CRR81 Cerruti).
Most recently, Back was recruited to restructure and take private Monsoon plc, a UK- based fashion retailer and was ultimately named its Chief Executive Officer.
Under his tenure there as Chief Commercial Officer, Back negotiated and repaid the company’s debt; restoring the c. £1 bn Monsoon to £100m EBITDA profitability. He was previously Chief Executive Officer of the supermarket group, Sommerfield PLC, in the mid 2000’s and oversaw an accelerated growth plan there which led to £1.5bn growth in the first year and a subsequent take-private transaction in a deal valued at £1.1 bn. Mr. Back has held a number of other executive and financial positions during his career in the retail industry, including with Laura Ashley Ltd., Chef & Brewer Group Ltd., Ryman Group, Grand Metropolitan Retailing and Budgens Stores Ltd.
“We are delighted Steve has joined Emerisque,” said William Knight, of Emerisque Brands. “His proven experience, specializing in sustainable business building and business recovery, supply chain efficiencies and financial and operational restructuring will be enormously helpful in creating value within the portfolio.”