Our corporate finance team have advised the Myers Family Office, on its purchase of Vian Marketing, the holding company for leading stand-up paddleboard business, Tushingham Sails which is best known in the market for its Red Paddle Co brand.
Browne Jacobson’s corporate finance team have advised the Myers Family Office, on its purchase of Vian Marketing, the holding company for leading stand-up paddleboard business, Tushingham Sails which is best known in the market for its Red Paddle Co brand.
Growth equity investor, Gresham House Ventures sold their stake in Red Paddle Co to Myers Family Office after yielding a 5 x return on investment since its original £4m investment in 2015.
Headquartered in Devon, Tushingham Sails was set up in 1977 by Roger Tushingham and is a water sports equipment manufacturer and distributor that specialises in windsurfing sails and Red Paddle Co stand-up paddle boards. The business supplies a global client portfolio made up of 1,000 leading retailers and schools, with a broad range of water sports products and Red Paddle Co recently partnered with John Lewis to stock some of its popular products from its broader water sports range. It is considered a market leading brand in the UK’s stand-up paddleboard space.
The Browne Jacobson corporate advisory team comprised corporate partner Richard Cox, senior associate, Sam Sharp and associate Sian Harrison. Partner Andrew Noble advised on the corporate tax side of the transaction.
Sam Sharp commented:
“We are pleased to have supported our client, the Myers Family Office, on this strategic investment which will allow Red Paddle Co to further grow its global profile.
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.
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