Independent private investor group ISIS Equity Partners has announced it is to change its name and brand as a result of the continuing conflict in the Middle East.
In a post on the company website, managing partner Wol Kolade said: “Given ongoing events in Syria and Iraq, it will come as no surprise to you to learn that we have decided to change our name,” adding “we are no longer prepared to share it with a terrorist organisation.”
The group, whose clients include Crew Clothing, Bonmarche and the Enigma travel Group, was founded in 1995 and invests mainly in “UK based growth companies with robust business models, typically valued from £5m to £100m.”
Announcing the change Kolade said: “We will hopefully be in a position to unveil our new brand in the coming weeks, however it is very much business as usual as far as we are concerned.
"Even though the name above the door will change, we remain focused and committed to invest in and support high growth UK companies run by entrepreneurial management teams.”
The private equity group is not alone in using the ISIS acronym but not everyone has decided to change their brand.
Marks & Spencer has confirmed it will not rebrand its range of Isis toiletries telling The Drum: “There are no plans to withdraw or change the name. The name is inspired by the Egyptian goddess Isis and is used a lot.”
PR giant Bell Pottinger was also recently linked with the terrorist group after a satirical article stated they had been hired by ISIS spread through social media forcing the company to issue a statement denying the rumour.