Birketts, the premier East of England law firm, has advised the shareholders of Motocaddy Holdings Limited, the world’s leading golf trolley and cart bag brand, on the sale of a majority stake to private equity firm Ethos Partners for £22m.
Established in 2004, Motocaddy Holdings Limited is based in Hertfordshire, employs over 40 people and sells its award-winning lines of electric and push golf trolleys, golf bags and accessories in over 40 countries worldwide. After reporting sales of £19.4m last year, it is intended that the deal will enable further international expansion.
The Birketts’ team advising on the transaction included Rafael Ruiz, Adam Jones, Alex Forwood, Thomas Utting (Corporate) with support from Karl Pocock and Ben Clarke (Tax), Abigail Hubert (Employment) and Matthew Grindley (Property).
Tony Webb, exiting CEO of Motocaddy, commented: “We are proud of what the company has achieved over the last 9 years since the original MBO back in 2010, and I am very grateful to the whole of my team for working so hard to build a reputation for offering the very best in design, build and functionality in order to become leaders in our field. This is an exciting time for Motocaddy, and we hope that Ethos’s acquisition of a majority stake in the company will open up new opportunities for further development and growth in the UK and beyond.”
Mr Webb continued: “The Birketts’ team provided exceptional support throughout the transaction, impressing us with their corporate knowledge, commercial insight and personable manner.”
Leading Partner, Rafael Ruiz concluded: “We were very pleased to have advised this longstanding client and leading golf brand on this transaction. Motocaddy is a global market leader in its product range, and we look forward to continuing to work with the business as it embarks upon its next stage of growth.”
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The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at October 2019.