Sydney-based surf manufacturer acquired

Sydney-based surf manufacturer acquired

22 December 2016 By Emma Ryan
Matt Egerton-Warburton

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.

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.

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Sydney-based surf manufacturer acquired
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