Outdoor equipment firm acquired by larger rival in Midlands advised deal
An outdoor clothing and equipment firm has been acquired by a larger rival in a deal part-advised out of the West Midlands.
The deal sees AL & ID Fox, trading as Fox’s Outdoor, being acquired by Mountain Warehouse, the nationwide outdoor equipment retailer.
The Oldbury office of national audit, tax and advisory firm, Crowe Clark Whitehill led the team that advised the vendors on the sale.
The CCW team included Andy Kay, Corporate Finance Partner in the Midlands; Richard Baker, Thames Valley Audit Partner and Jane Mackay, Thames Valley Tax Partner.
Reading law firm Boyes Turner also advised the vendors.
Fox’s Outdoor, a family business based in Amersham, was founded over 60 years ago.
Andy Kay said: “This was a real team effort involving our Midlands office in Oldbury and our Thames Valley office in Reading.
“Mountain Warehouse was a natural choice for a buyer for the Fox family business.”
Kevin Fox, former managing director of Fox’s Outdoor, said the company had been grateful for the support offered by Crowe Clark Whitehill.
In May 2017, Mountain Warehouse reported 20 years of uninterrupted growth, with sales up 30.8% in the year to February 2017. From a first shop in Swindon in 1997, the firm now has 262 in the UK with plans for a further 40.
“The mid-tier UK corporate finance market is strong and, despite warnings of economic uncertainty, there are still buyers for good businesses,” added Mr Kay.
“We are pleased to have advised the Fox family on the sale of a long-established company into the hands of one of the UK’s most entrepreneurial and fast growing outdoor clothing and equipment retailers.”
