Tearaway eye wear group Bailey Nelson is set to front private equity funds and other growth capital investors for a funding round through Goldman Sachs

The company has grown to about 40 stores in Australia and its network also stretches New Zealand, Canada and the UK. It is understood to be making more than $100 million revenue a year.

Street Talk can reveal Bailey Nelson founders Nick Perry and Peter Winkle took pitches from a handful of investment banks in recent weeks, before tapping Goldman Sachs for the mandate.

The founders and the bankers have now started working on the narrative to present to potential investors, with the funding round pegged for later this year.

Bailey Nelson was set up as a direct-to-consumer eye wear company in 2012, sourcing spectacle frames, lenses, sunglasses and the like, and selling them to customers via its store network and online.

Read more

Source: Financial Review