Shoosmiths advises on £15.9m management buy-out of Virgin Wines

Shoosmiths’ Manchester corporate and banking team has advised on the £15.9m management buy-out of online wine retailer Virgin Wines, which has a significant part of its operations in the north west.

The firm advised a newco backed by private equity funds Mobeus Equity Partners and Connection Capital, together with management in relation to the acquisition and finance arrangements for the transaction.

The deal will see Virgin Wines’ operations split between Preston and Norwich, after being owned by Reading-based Direct Wines.

Shoosmiths’ team was led by partner Kieran Toal and comprised partner Mark Dawson and senior associate Alex Lilley on corporate matters, with partner Graham Hall and solicitor Holly Cheng on banking aspects.