Corporate Finance Deal Announcement: Rutland Cycling
We are delighted to announce the management buy-out (MBO) of Rutland Cycling by its management team, Paul Archer, Karen Archer, David Middlemiss and Sally Middlemiss.
Rutland Cycling is a multi award-winning company that boasts over 30 years’ experience in the cycling industry and has been voted the UK’s best independent cycle retailer two years in a row. So whether you’re looking to hire a bike to pedal around nearby lakes and woods, or indulging in some retail therapy, Rutland Cycling can offer the best value and experience you will find. Sister company, Rutland Outdoor, accommodates the growing number of outdoor enthusiasts who are looking to purchase outdoor and camping products online.
The MBO was successfully led by corporate finance partner Laurence Whitehead. Specialist corporate tax advice was provided by tax partner Kevin Edwards. The team assisted management in the negotiation of the deal price with the vendors and the deal structure with the bank.
Incumbent law firms Greenwoods and Hegartys, both based in Peterborough, advised on the legal aspects of the deal.
Member of the management team David Middlemiss commented:
“The team at MHA MacIntyre Hudson did an excellent job from start to finish. Assistance from Laurence during the structuring, valuation and negotiation stages in particular was invaluable. Discussions with the bank were at times tortuous but thankfully we got there in the end. The team saw us through to completion, whilst providing solid advice and support on the financial and tax aspects of the deal. This gave us confidence to get on with running the business on a day to day basis. They are proactive people with the knowledge and experience to give good advice and this certainly helped us to get the deal over the line.”
We wish Paul, Karen, David and Sally every success in the future and look forward to working with them again over the coming years.
If you would like to know more about this deal or how we can assist you, your clients or your contacts, send us an enquiry.