Wool Over/ Woolovers.com, the online and mail order knitwear retailer, has been acquired by private equity firm Langholm Capital. Clearwater International advised the founders of Wool Overs, Mark and Clare Shenton, on the sale.

Founded by Mark and Clare in 1989, Wool Overs has developed from a business selling cable-knit sweaters at country shows, to an international online retailer selling over 150 different styles of jumpers, sweaters and cardigans.

Based in West Sussex, the business has been recognised as a 'Fast Track 100 Ones to Watch' -with turnover increasing by 25% in each of the last two years.  One third of the company's sales are now generated oversees, with their online channel being a key route to market.

Langholm Capital specialise in partnering with high-growth consumer facing businesses such as Dorset Cereals and Tyrrells Crisps and the firm has long been interested in the branded online retail space.  This transaction represents the fourth investment from Langholm Capital's second fund, which is now over 70% invested.

Clearwater International advised Wool Overs on the deal. The team was led by partner  Gareth Iley, supported by associate directors Helen Lowe and Natasha Price and associate James Clifford.  This is the fifth deal Clearwater International has completed in the Consumer sector since January this year.

Mark Shenton, Founder, Wool Overs, said:

"This is a very exciting opportunity for Wool Overs and a new chapter in its history.  Langholm Capital has a track record of building brands and growing businesses and I look forward to a fruitful partnership and realising the Wool Overs' full potential". 

Gareth Iley, Head of Consumer, Clearwater International commented: 

"We are delighted to have advised Mark and Clare on the sale of Wool Overs to Langholm Capital.  Mark and Clare have created a niche by building a leading ecommerce business selling high quality knitwear at compelling prices.  We are confident that Langholm Capital, Mark and the management team will continue to make Wool Overs a huge success."

Your.MD raises $5m led by Smedvig Capital, partners with Samsung & NHS to offer trusted, comprehensive healthcare information to smartphone users worldwide

London-based digital health startup Your.MD (http://www.your.md), developer of a personalised health assistant for smartphones, has closed a $5m seed funding round led by Smedvig Capital (http://www.smedvig.no) with participation from existing angel investors.

Your.MD plans to use the funds to develop the next-generation version of its app which will combine artificial intelligence (A.I.) with machine-learning technology, using data collected from users to continually improve  the personalised healthcare feedback it provides.

Using clinically assured information provided by the NHS, Your.MD relies on proprietary algorithms to provide users with high-quality, comprehensive information about their conditions, possible causes and what steps they could take to remedy their illness, including when to see a doctor.  Your.MD's Symptom Checker has already helped with 1.5 million queries for advice on symptoms and has been downloaded more than 500,000 times since launching in April 2014.  In addition to helping users in developed countries, the service can empower 5.4 billion people in countries with poor or no access to basic health services get the essential medical information they need to improve their health.

Your.MD has signed a partnership agreement to use NHS clinically approved condition and treatment information and is exploring the potential use of other NHS data sources.  In addition, the app is available on over 400 million devices after partnering with Samsung for the launch of their S-Health platform in November 2014.

As Eric Topol, a leading American physician and author, outlines in his latest bestseller The Patient Will See You Now: "Digitally empowered patients will truly take charge of their own health care" - yet people still have to wait a long time to get access to the service they need (18.5 days in major U.S. cities).  For national health services globally, there is a growing bottleneck due to limited finances, growing and aging populations and the limited number of doctors.

"We are confident that our free symptom checker contains the most comprehensive health information available, offering users the best solution for getting quick, accurate and actionable help on all the most common medical conditions.  Now is the right time to scale up our team and operation in order to cement our position as market leaders." said Matteo Berlucchi, CEO, Your.MD.

"Your.MD's platform can reach and help millions of people who are unwell, addressing a huge and under served market opportunity.  We believe Your.MD is well placed to expand rapidly to the significant benefit of mobile users globally." said Marit Salte Hovstad, CFO of the Smedvig Family Office.

Following the closing of the seed round, Your.MD is also announcing that Alessandro Traverso is joining as Chief Operating Officer and will be responsible for operations, marketing and business development. Traverso brings a wealth of experience to the role, having most recently served as Chief Operating Officer for the company behind the Talking Tom and Friends franchise where he helped the company grow to 230 million monthly active users.

New LEP service to help small businesses grow

The Leeds City Region Enterprise Partnership (LEP) has launched a new service to help ambitious small and medium-sized businesses (SMEs) in the region grow and create jobs.

The new LEP growth service - launched at an event at the Google Digital Garage today - will act as a one-stop-shop for information about the support and funding available to SMEs in Leeds City Region that have the ambition and potential to grow.

Significant government-funded support is available to businesses in Leeds City Region, however the LEP's research shows that businesses often don't know what is on offer or how to access it. The LEP is looking to address this by providing a single point of contact to help SMEs find the right support to achieve their growth ambitions including business finance, export, innovation, skills including leadership and management.

The aim is to help 20,000 SMEs grow and prosper in the region over the next six years.

Roger Marsh, Chair of the LEP said: "Helping business and enterprise to thrive is at the heart of our long-term plan to transform the Leeds City Region Economy. SMEs make up 99% of our business community: if they grow, our region will grow too.

"We know that businesses are often unaware of the support available to help them develop or unsure how to get started. Our new growth service has been created for small and medium-sized businesses as a single point of contact to help them explore and identify the right support for them and simplify the journey. 

"Whether you are looking for funding, skills and training, export advice or digital skills, support is available and we at the LEP can help you find it."

Eric Hawthorn, MD of Radio Design and LEP Board member shared his experiences with the business audience and encouraged other businesses to take advantage of support to grow more quickly. He said: "Having grown Radio Design from a start-up in 2007 to a large business employing 300 globally, I know first-hand how difficult it can be to find the right support at the right time. That's why I'm delighted to have played a role in shaping this new service, which will make it easier for other businesses to reach their growth potential.

"We are fortunate to have a strong network of partners in the region, all working together in our shared interests to support small businesses and ensure our economy thrives. This new service will be essential in pulling together this support so that growth is made as simple as possible for the 100,000-plus SMEs that are the backbone of our economy."

Small Business Minister Anna Soubry said: "Wherever they are in the country, businesses want relevant advice delivered by local experts - and Growth Hubs give them just that. They are a vital part of our plan to make the UK the best place in Europe to start and grow a business.

"There were over 9,000 new start-ups in the Leeds City Region in 2014, and this new service will be there to help them grow and create more jobs for local people."

Through the new LEP service, businesses will be able to find support and funding from the LEP directly and from its extensive network of local and national partners. A team of SME growth managers based in local areas will provide intensive support to businesses in their areas that have potential for rapid growth. Information and support is also available through the new LEP website and a dedicated telephone helpline.

Over 100 businesses and representatives of business support organisations attended the event to hear from successful small businesses who have grown with support from the LEP or its network of local and national partners. Some of the local business heroes who shared their growth stories at the event included Tim Parkinson, MD of Airedale Springs in Keighley, Victoria Boldison, International Brand Controller at Principle Healthcare in Skipton and Melanie Oldham, MD of Bob's Business in Barnsley.

At the event businesses were also able to take part in a digital master class led by Google experts to help them do better business online. The master class offered a flavour of the support available to SMEs at the Google Digital Garage at Leeds Dock.