Browne Jacobson’s banking & finance lawyers have advised HSBC UK Bank plc on the financed management buy-out of Derby-based bicycle supplier and distributor, Moore Large for an undisclosed sum.
Browne Jacobson’s banking & finance lawyers have advised HSBC UK Bank plc on the financed management buy-out of Derby based bicycle supplier and distributor, Moore Large for an undisclosed sum.
Moore Large (J.H. Moore & Sons (Rickmansworth) Limited / Moore Large & Co Limited) was founded by the Moore Family who have been selling bicycles since 1947. The company has been led by Chairman and Managing Director, Nigel Moore for the last 40 years. Nigel has worked alongside four other members of the senior management team which includes directors Andrew Walker, Dale Vanderplank, Adam Briggs and Adam Garner who will take over the running of the business in the wake of Nigel’s retirement.
The business which is considered an industry leader in offering the most diverse range of cycles and cycling accessories, employs a workforce of over 90. It has its own in-house portfolio which comprises of some of the fastest growing and prolific brands in the world of cycling, including ETC and Forme. It also represents a number of external high-profile global retail brands, including Lake, Box, Alpina and Jagwire amongst others.
The secured funding from HSBC will support Moore Large’s future ambitions for further growth and allow the team to further develop their in-house brand offering.
Graham Brown, relationship director at HSBC UK, said:
“The demand for sustainable travel has increased heavily in the last few years, with cycling also offering many health benefits. We’re proud to be supporting the UK’s largest family-owned bicycle distributor with this buyout and its growth plans to drive demand for bikes around the country and help people make the switch to cycling.”
James Busby added:
“We are pleased to have supported our long-standing clients HSBC and Moore Large in this latest strategic transaction. Moore Large have a very successful business model and are a trusted heritage brand in the cycling sector and have a diverse and dynamic range of brands in their portfolio. With the demand for bicycles increasing rapidly since the Pandemic began and this latest investment, they have all of the right ingredients to really grow and dominate the market share. We look forward to seeing their next phase.”
Browne Jacobson’s corporate finance and banking & finance teams deliver complex layered transactions to a broad client base, which is made up of UK and international corporates of all sizes, from high growth companies to FTSE 100 companies to institutional investors as well as advising entrepreneurs and management teams. The banking team which cuts across three of the firm’s five office network also has a strong government sector offering and are one of the UK’s leading advisors to local and central government bodies. In 2021, the firm was named ‘Regional Legal Adviser of the Year’ at the European Private Equity Awards, an accolade it has been shortlisted for again in 2022.
In this session, we examined the legal framework around grant funded collaborations and discussed the key risks to be aware of, including IP ownership and compliance with grant terms.
Bishopsgate Corporate Finance and law firm Browne Jacobson have jointly advised on the acquisition of award-winning tech solutions business, Custard Technical Services by US managers services and cyber security provider, Thrive.
National law firm Browne Jacobson has advised long standing retail client, Wilko on the sale and leaseback of its Nottinghamshire distribution centre in Worksop to logistics specialist DHL for £48m.
Law firm Browne Jacobson has appointed former Vice President and Chief Planning Officer (CPO) of Aston Martin Lagonda, Nikki Rimmington as its first Non-Executive Director (NED) of its Manufacturing & Industrials sector strategy board.
In a judgment handed down yesterday the Supreme Court has affirmed that a so called “creditor duty” exists for directors such that in some circumstances company directors are required to act in accordance with, or to consider the interests of creditors. Those circumstances potentially arise when a company is insolvent or where there is a “probability” of an insolvency. We explore below the “trigger” for such a test to apply and its implications.
Created at the end of the Brexit transition period, Retained EU Law is a category of domestic law that consists of EU-derived legislation retained in our domestic legal framework by the European Union (Withdrawal) Act 2018. This was never intended to be a permanent arrangement as parliament promised to deal with retained EU law through the Retained EU Law (Revocation and Reform) Bill (the “Bill”).
Browne Jacobson’s corporate technology dealmakers have advised Agilico, a workplace technology business, on its acquisition of Capital Document Solutions Limited for an undisclosed amount.
Browne Jacobson’s lawyers have advised Suez SA and its shareholders on its acquisition of its former UK waste management business – Suez R&R UK - from French headquartered business Veolia for an enterprise value of £2 billion.
The Supreme Court has unanimously dismissed the BTI v Sequana appeal and reviewed the existence, content and engagement of the so-called ‘creditor duty’; being the point at which the interest of creditors is said to intrude upon the decision-making of directors of companies in financial distress.
It was reported in May 2022 that the BMW-owned manufacturer had been forced to put a temporary stop on the production of all manual transmission vehicles due to the global semi-conductor shortage and the war in Ukraine. Mini stated that the move was made in order to "ensure production stability".
Browne Jacobson has bolstered its commercial practice in the UK with the appointment of commercial contracts and international trade specialist, Emma Roake, into its City-based London team.
Browne Jacobson’s national private equity (PE) lawyers have advised leading mid-market PE investment firm, Palatine Private Equity (Palatine) on its exit from CTS Group, the fast-growing specialist in testing, inspection and geoengineering consulting services to the construction and infrastructure sectors.
Browne Jacobson’s corporate finance lawyers have advised leading mid-market private equity firm, LDC and management on the sale of specialist managed IT services provider, Littlefish to Bowmark Capital.
The Digital Markets Act (the “DMA”) joins the dots between competition law and data protection law and actively targets data-driven platforms. It is also a comprehensive regulation to take note of, with familiar GDPR-style fines tied to turnover.
Browne Jacobson’s private equity (PE) dealmakers have advised Palatine Private Equity backed CTS Group (Construction Testing Solutions Limited) on its acquisition of In Situ Site Investigation, a market leader in Cone Penetration Testing and Pressuremeter techniques and ground investigation services.
Browne Jacobson’s corporate finance lawyers have advised leading private equity investor, Rcapital Partners LLP (Rcapital) on its majority stake acquisition of managing general agents (MGAs), UK General Insurance Ltd (UKG) and Precision Partnership Limited (PPL) alongside Montague Investment Group LLP who are taking a minority stake.
In an unreported case (Re Active Wear Limited (in Administration)), the High Court has ruled that an out-of-court administration appointment, instigated by a sole director of a company with unmodified model articles, was valid notwithstanding the earlier decision of Deputy Judge Farnhill (also in the High Court) in the case Hashmi v Lorimer-Wing (also known as Re Fore Fitness Investments Holdings Ltd)  EWHC 191 (Ch) (02 February 2022).
Rolls-Royce has shortlisted six locations for its first factory for small nuclear power stations. We look at the impact on regions & local businesses
There are clearly challenging macro-economic factors at play but at Browne Jacobson we continue to see good levels of transactional activity with certain sectors being particularly buoyant: healthcare, financial services, energy & infrastructure and tech.
Browne Jacobson continues to see good levels of transactional activity with certain sectors being particularly buoyant: healthcare, financial services, energy & infrastructure and tech.
The Court of Appeal has dismissed two cases regarding rent arrears accrued during the Covid lockdowns. The cases are London Trocadero (2015) LLP v Picturehouse Cinemas Ltd and Bank of New York Mellon (International) Ltd v Cine-UK Ltd.