Mirfield 1964 group closes in on jeweller Theo Fennell

A consortium of private investors finally looks set to get its hands on the luxury jewellery brand Theo Fennell.

The proposed takeover is by Mirfield 1964, a vehicle set up in June specifically for the acquisition. Its investors include Mike Jatania, the cosmetics tycoon, Sir Keith Mills, who was deputy chairman of the London Organising Committee of the Olympic Games, and Jon Moulton, the founder of Better Capital. Each of them has invested £1.5m, while the private-equity group EME Capital and the former Goldsmiths chairman and chief executive, Jurek Piasecki, have each committed £500,000.

The saga has run for 11 months and included seven Takeover Panel deadline extensions. Mirfield will pay 12.5p a share, Mr Piasecki will become chief executive and founder Theo Fennell pictured, will join Mirfield's board.