Risk Capital, the private equity firm chaired by entrepreneur Luke Johnson, has bought a controlling stake in the swimwear brand Zoggs.
Zoggs, which makes goggles and costumes, was founded in Australia in 1992. It now sells 2.5m pairs of goggles a year across 50 countries.
The price of the deal was not disclosed. The current management, led by managing director Mark Hammersley, will stay on.
For the past decade Zoggs has been owned by Kendal Group, an investment vehicle controlled by brothers Daniel and Leo Gestetner.
Johnson, a Sunday Times Business columnist, said: “We see sustained long-term growth in the global swimming market, supported by favourable demographics . . . as well as shifting cultural attitudes to swimming across the Far East and Middle East.”