Carlyle has injected £150 million into The Very Group as part of a refinancing package designed to stabilize the online retailer's capital structure ahead of a potential sale. The private equity firm converted debt holdings into equity, reinforcing its ownership position in the debt-laden UK business. This move follows Carlyle's seizure of control last year after the Barclay Brothers' business empire collapsed amid bankruptcy proceedings.

Abu Dhabi-based IMI also became a significant lender under the restructuring, with both parties assuming ownership in November. The refinancing extends Very's UK securitization facility to February 2029 and prolongs a £150 million revolving credit facility to 2030. The company stated the restructuring "significantly strengthens the group's capital structure and leaves the business well-positioned for the next stage of its growth."

For Carlyle, this £150 million injection underscores the increasing role of private equity firms as lender-owners in complex restructurings. Rather than pursuing immediate asset disposals, sponsors are increasingly stabilizing capital structures before returning to the market with clearer exit propositions. The transaction positions Very for a potential sale while addressing its substantial debt burden inherited from the Barclay family's ownership.