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North East outfit Muckle has advised a North East start-up on the acquisition of countryside clothing brand John Partridge.
A team of lawyers led by corporate finance partner Craig Swinhoe advised former Barbour operations director David Reay, former Barbour design head Gary Newbold and former Penny Plain managing director Nick Oliver on the buyout.
The trio set up new company Partridge Trading to acquire the Partridge brand from the Bollin Group for an undisclosed fee.
The Muckle team, which included commercial partner Peter Robinson, also carried out due diligence on IP and commercial arrangements with retailers and sales agents, established new commercial and employment terms for the company and advised on funding secured from the FW Capital Growth 500 Plus Fund and business angel Anne Holliday.
Both investors were advised by Ward Hadaway corporate finance partner Richard Butts, while Bollin was advised by Nicholas Fielding of Fielding Solicitors.
Swinhoe said: “Time pressures were key and it was important to keep driving things forward and pushing everyone who was involved to ensure that the investment and acquisition were completed so that Partridge could deliver their samples in time for the autumn-winter 2011 season.
“We were available night and day, and the Partridge management team spent more than a week based in our offices.”