The boss of outdoor clothing chain Mountain Warehouse is set to pocket millions of pounds after selling part of the business.
Mark Neale will trouser the cash in a deal with private equity fund Inflexion.
The 50-year-old founded his business in 1997 from a shop in Swindon, after previously running ventures making toys and greetings cards.
It now has 220 UK stores and 80 abroad, in countries such as Germany, Holland and Canada.
The firm reported record sales of £225.3million in the 12 months to February and the deal values it at £310million.
The outdoor clothing and equipment market in Europe is valued at £14 billion.
The retail brand currently operates more than 220 stores in the UK, and 80 others in countries like Germany, Holland, Canada, Poland, the Netherlands, Ireland, Austria, New Zealand and the US.
Under the deal, Inflexion will buy 20 per cent of Mountain Warehouse for £45million.
The business will continue to be run by Neale, who owns a majority stake.
The investment deal has come at the time when the retailer witnessed a record growth of 22 per cent increase in sales to £ 225.3 million in fiscal 2018 as compared to the previous one.
The entrepreneur – who is married to Michelle Feeney, the boss of tanning firm St Tropez – said the investment would help the company as it pushes forwards with an expansion overseas.
He added: ‘It’s my firm belief that if you have the right products and provide great service people will keep shopping with you.
‘It’s great Inflexion shares that belief and wants to help support us.’
Simon Turner, a managing partner at Inflexion, said: ‘Having followed the business for a decade, we understand how management envisage it growing, and look forward to assisting them.’
Inflexion said Mark Neale will continue to run the business along with his team.
“Its good to go for an association with someone who understands our business,” added Mountain Warehouse CEO.
“We concluded on this deal as the business is one with an unrivalled brand in the outdoor market,” said Simon Turner, managing partner at Inflexion