Browne Jacobson advised the Myers Family Office on the deal. Michelmores acted for the shareholders of Vian Marketing Limited.
Myers Family Office purchased 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 (Picture), senior associate, Sam Sharp and associate Sian Harrison. Partner Andrew Noble advised on the corporate tax side of the transaction.
Michelmores team included Partner, Henry Taylor led the team with Senior Associate, Francesca Hubbard, with specialist support from David Thompson (IP) and Anthony Reeves (Tax).
Involved fees earner: Richard Cox – Browne Jacobson; Sian Harrison – Browne Jacobson; Andrew Noble – Browne Jacobson; Sam Sharp – Browne Jacobson; Francesca Hubbard – Michelmores LLP; Anthony Reeves – Michelmores LLP; Henry Taylor – Michelmores LLP; David Thompson – Michelmores LLP;