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Management Buyout of AMG Group - 7th March 2014 - Click for larger version Management Buyout of AMG Group - 7th March 2014

Macdonald Henderson is delighted to have acted for the management team in the management buyout of tent and sporting goods supplier AMG Group which completed on 3rd March 2014.

The Port Glasgow company, which can trace its origins to cotton trading in the 19th century, is well known among camping enthusiasts for its Vango and Black's of Greenock range of tents with the latter a favourite among the likes of the Scouts, Boys Brigade and Guides.

It also owns the Force Ten mountaineering equipment brand and distributes products from the likes of winter sports equipment specialist Rossignol, stove supplier Trangia and footwear maker Asolo.

The deal will see the Moodie family, who have been involved with the company for almost 50 years, give up majority control with three long-serving directors acquiring more than 75% of the shares.

Managing director Stephen Newlands, commercial director Steve Craig and product director Glenn Andrews are all making investments into the business with additional funding coming from Royal Bank of Scotland and some loan notes provided by former owner Sandy Moodie. The deal was also financed by RBS and RBSIF.

On Macdonald Henderson, commercial director Steve Craig commented:

"This was our first transaction with Macdonald Henderson and it was a pleasure working with a team dedicated to deliver results, on time. Outside the legal profession lawyers can sometimes get a bad name, but the professionalism and diligence of these guys has changed our opinion. We look forward to working with them again in the future”.

We are delighted to have acted for the team in this significant transaction and look forward to working with the team as the business continues to grow.

(excerpts of copy courtesy of The Herald, 7th March 2014).

Last updated: 4.37pm, Friday 7th March 2014

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