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Odyssey Private Equity secures stake in online retailer
The private equity group has invested in online retailer, MTB Direct, which was advised by global law firm DLA Piper.
Emma Musgrave
Firm: MTB Direct (DLA Piper); undisclosed (Odyssey Private Equity).
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Deal: Odyssey Private Equity has acquired a stake in MTB Direct.
Value: Undisclosed.
Area: Finance, corporate.
Key players: The legal team advising MTB Direct was led by DLA Piper corporate partner Lyndon Masters, with assistance from senior associate Elizabeth Campbell, solicitors Mim Sherington and Claire Robertson.
Deal significance: Founded in 2012, MTB Direct is described as an Australian-based online retailer that has a distinct focus on mountain bike products.
According to a statement provided by DLA Piper, Odyssey Private Equity and MTB Direct will use the capital to “inject funds into the retailer to build its customer offering and on overseas expansion”.
MTB Direct recently launched in New Zealand and wants to build upon its impressive growth in other geographies, the firm’s statement explained.
Commenting on the transaction, DLA Piper corporate partner Mr Masters said: “We are excited to be able to support another growing online Australian business like MTB Direct on the next stage of its journey, and we look forward to seeing MTB Direct expand and bring its personal customer offering to mountain bike riders around the globe.”
