Walker Morris advised Gear4music with a team including Richard Naish (Picture – Corporate M&A).
Gear4music acquired AV Distribution Ltd (trading as AV Online).
The acquisition, which is conditional on FCA approval under Change of Ownership provisions, is for a consideration of £6.2 million (on a debt/cash free basis and assuming normalised levels of working capital) and is expected to complete in or around December 2021.
AV Online is an online retailer of Home Cinema and HiFi equipment. It is anticipated that AV Online will greatly benefit from being transferred onto Gear4music’s highly scalable European e-commerce platform and being rebranded to ‘AV.com’
Walker Morris fielded a multidisciplinary team led by corporate partner Richard Naish (Picture) supported by Daniel O’Connell (Corporate), Simon Slade and Luke Riley (Tax), Laura Oxley and Lucy Gordon (Employment), Ryan Doodson (Commercial), Jess Padget (Regulatory), Matthew Lingard (IP) Josh Waddington (Banking & Finance), Ruth Bamforth (Pensions) and Andrew Maclean (Real Estate).
Involved fees earner: Ruth Bamforth – Walker Morris; Ryan Doodson – Walker Morris; Lucy Gordon – Walker Morris; Matthew Lingard – Walker Morris; Andrew Maclean – Walker Morris; Richard Naish – Walker Morris; Laura Oxley – Walker Morris; Daniel O’Connell – Walker Morris; Luke Riley – Walker Morris; Simon Slade – Walker Morris; Joshua Waddington – Walker Morris;
Law Firms: Walker Morris;