Travers Smith LLP has advised long-standing client Phoenix Equity Partners ("Phoenix") and management on the sale of Musto to Helly Hansen, a Norwegian outdoor clothing specialist backed by the Ontario Teachers' Pension Fund (the "Acquisition").
Travers Smith advised Phoenix on its original acquisition of Musto in 2007 and has advised the company and its shareholders since.
Founded in 1964 by Olympic sailing champion, Keith Musto, Musto is a British brand widely known throughout the sailing, equestrian and country sports communities for its high quality, cutting edge technical apparel and accessories. Among its many accolades, Musto has been granted two British Royal Warrants and is an official supplier to both the British National Sailing Team and the British Equestrian Federation in connection with the 2020 Tokyo Olympic Games.
The Travers Smith team was led by Private Equity Partner Edmund Reed, with assistance from Senior Associate Jeremy Dennison and Associates Jessica Kolhorn and James Ravden. Tax advice was provided by Tax Partner Russell Warren and Associate Laura Jackson.
Boutique corporate advisory firm Financo provided corporate finance advice to Musto. Helly Hansen were advised by DLA Piper (legal) and Ondra Partners (corporate finance).