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Sydney-based surf manufacturer acquired
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‘Cast your net as widely as possible’: A word to law graduates:

Sydney-based surf manufacturer acquired

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.

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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