Mishcon de Reya has advised Europe's largest privately owned fishing tackle company, Fox International, on a secondary buyout backed by Mayfair Equity Partners, which values Fox at £50 million.
Fox International was founded by Clifford Fox in 1964 and sells over 3,000 products in more than 30 countries. It focuses on product leadership and innovation in the supply of fishing equipment for anglers globally.
Mayfair has acquired its stake in the company from Fox’s existing investor, Next Wave Partners, which retains a significant minority shareholding. Mayfair will have majority control of the business alongside Fox’s management team, led by its Chief Executive, David Algar.
David Algar, CEO of Fox International, commented: "Mishcon have been an excellent partner throughout the process. They combined technical rigour with real commercial acumen and as such were highly effective in delivering what has been a very good transaction for all parties."
The Mishcon de Reya team was led by Private Equity Partner Nadim Meer, assisted by Legal Director Allison Keyse.
Nadim Meer commented: "We were really pleased to have been selected to act for the Fox International managers. With experienced investment partners, David and his team have a great opportunity to further accelerate Fox's expansion plans."