Birmingham law firm Wragge & Co has advised Lloyds TSB Development Capital on the acquisition of the Mountain Warehouse group - one of the UK’s largest retailers of outdoor clothing and equipment.
LDC acquired a significant minority holding in the group in a transaction valuing the business at more than £50 million.
Corporate partners Maurice Dwyer, Ian Piggin, Kirsty Jefferies and David Marshall advised LDC on the transaction, which also involved advising on the senior debt facilities provided by the Royal Bank of Scotland (RBS).
With RBS and LDC’s backing, Mountain Warehouse aims to expand its network to 200 stores and grow annual turnover to £100 million by 2014.
Ian Piggin 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.”