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Sydney-based surf manufacturer acquired
Three firms have advised in the acquisition that saw Gowing Bros. Ltd acquire 100 per cent of the shares in a Sydney-headquartered surf-wear manufacturer.
Emma Musgrave
Firms: PwC (Gowing Bros. Ltd); King & Wood Mallesons (SurfSitch Group Limited); Deloitte (SurfStitch Group Limited)
Deal: Gowing Bros. Ltd has acquired 100 per cent of the shares in SHI Holdings Pty Limited from the SurfStich Group.
Value: $17 million
Area: M&A
Key players: Leading the PwC legal services team was M&A partner James Delesclefs, with directors Samantha James and Sophie Raven, and lawyers Steph Baker and Genevieve Edye.
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Partners and other professionals from PwC's deals and corporate tax teams also provided services.
Matt Egerton-Warburton (pictured) led the King & Wood Mallesons team, supported by Oliver Kabongo.
Callum Greig of Deloitte was corporate advisor to SurfStitch Group Limited.
Deal significance: SHI Holdings Pty Limited is a Sydney-headquartered manufacturer and global supplier of surf related hardware products under four highly recognised brands, including FCS, Gorilla, Softech and Hydro.
This sale concludes a sale process by the SurfStich group approximately one year after it acquired the business.
