Investment firm Amery Capital has bought shoe company Oliver Sweeney Limited out of administration for an undisclosed sum, and says it now plans to develop the brand for international and direct sales.

The deal has been made through a new company, McFL Trading Limited, in partnership with footwear manufacturer Tim Cooper, founder of OPS Ltd and distributor of Steve Madden Europe.

The Oliver Sweeney brand saw sales of GBP6m (US$9.7m) worldwide in 2008.

Following today's (9 June) deal, the shoe company will continue to operate online and from its three UK stores, as well as its concessions in Harvey Nichols and other leading footwear stores.

Ross Connock, joint administrator and director at PricewaterhouseCoopers LLP said the sale "secures a future for the brand and employment for more than 20 people."

Maurice Helfgott, director of Amery Capital, said: "I have been an admirer of Oliver's shoes for almost 20 years and am very pleased to be able to invest behind the brand to ensure the success it deserves in the UK and around the world."

Amery Capital was founded by Maurice Helfgott, a former Marks & Spencer director, in November 2004 with the backing of retail entrepreneurs, Michael and Maurice Bennett, founders of the Oasis fashion chain.

Oliver Sweeney will join Amery Capital's porfolio of investments, which includes Long Tall Sally and Retail Profile, as well as a minority position in Kookai UK.

Oliver Sweeney said: "I am delighted that in Maurice and Tim I have found people who understand and respect my brand values and have the commercial acumen, product experience and the capital to ensure that the brand succeeds in a new company.

"I have every confidence in their ability to take my brand forward and I look forward to giving them every support in developing the business."