Wed, 15 Sep 2010 | MBO/MBI
Outdoor clothing retailer Snow+Rock Sports has been bought in a management buyout deal, backed by JGV Capital.
The deal sees its owner Andrew Brownsword pocket a windfall - the amount of which was undisclosed - while retaining a small stake in the business. He purchased the business in 2004 and since then the number of outlets has tripled to 35.
The MBO was led by managing director Dion Taylor, who is to hold a stake of between 10 and 20 per cent. He commented, “Andrew Brownsword and Jeremy Hancock helped us to grow the group to its current marketleading position, but now it is time for the management to become stakeholders in the business and to continue to drive it forward.”
Plans for the group, which also owns the Cycle Surgery and Runners Need brands, will see five to six stores opening every year, with a focus on growing the Cycle Surgery business.
Snow+Rock sells ski, snowboarding, climbing and camping equipment in its shops. It saw its revenues rise by 10 per cent to £65 million last year.
The owner of Bath Rugby Club, Mr Brownsword famously sold the Forever Friends greeting cards business for £165 million in the 1990s.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
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