Wragge & Co advises Mountain Warehouse founder on £85m acquisition

Wragge & Co has advised the founder of Mountain Warehouse on the £85m acquisition of the outdoor clothing and equipment retail business.

The buyout of minority shareholder LDC means the management team, led by founder and chief executive officer Mark Neale, takes full ownership of the 169-strong retail chain. It follows the decision by LDC to sell its shareholding in the business, which it acquired in 2010.

Corporate partner Ian Piggin and associate Nick Crabtree, banking partner Kirsty Barnes and director Jonathan Segal advised Neale and his team on the refinancing provided by RBS and asset management group Alcentra.

Advisers from Wragge & Co’s corporate, banking, real-estate and transaction services teams were involved in the deal.