Wragge advises LDC takeover
Law firm Wragge and Co, based in Birmingham, has advised Lloyds TSB Development Capital (LDC) on the acquisition of the Mountain Warehouse group. LDC acquired a significant minority holding in the group in a transaction valuing the business at more than £50m.
Mountain Warehouse is a London-based supplier of outdoor clothing and equipment.
Senior debt facilities were provided by the Royal Bank of Scotland (RBS).
With investment from RBS and LDC, Mountain Warehouse aims to have more than 200 stores and an annual turnover of £100m by 2014.
Ian Piggin, corporate partner at Wragge and Co, said: "As a long-standing and valued adviser to LDC, our clear understanding of its objectives enabled us to reach a successful outcome. Experienced in mid-market transactions, our dedicated private equity team provided pragmatic and commercial advice to complete the deal to timetable.
“Retail is a key area for LDC, and this strategic investment is an exciting move for Mountain Warehouse, which will help set the stage for its growth plans."
