Youth fashion chain Universal Store is ramping up plans for new stores and online retailing following a $100 million management buyout backed by three of Australia's most successful private equity investors – Brett Blundy's BB Retail Capital, Trent Peterson's Catalyst Direct Capital Management and Adrian MacKenzie's Five V Capital.

BB Retail Capital, Catalyst and Five V reached agreement over the weekend to buy the Brisbane-based business, which has annual sales of more than $100 million and 53 stand-alone stores across Australia, from founders Michael and Greg Josephson.