The corporate team at Trethowans solicitors has advised the shareholders of Southampton-based He-Man Equipment on the sale of the entire share capital to HM Holding, an investment vehicle primarily backed by a group of investors including Jon Moulton, one of the UK’s best-known private-equity investors.
He-Man Equipment, which trades as He-Man Dual Controls, has been in existence since 1931. As the dual-controls system of choice for most car manufacturers and driving instructors, it is the UK’s leading dual-control supplier.
Adrian Field, investment director for HM Holding, commented: "We are pleased to back the management buyout of the business and the transaction went very smoothly.”
The corporate aspects of the transaction were dealt with by Trethowans partner, Mike Watson, alongside Jamie Earley and Arcadius Gregory. Steve Pittaway, of Taktika Business Solutions, who had previously provided management consultancy services to the company and acted as non-executive chairman, project managed the deal on behalf of the sellers.
Watson commented: “He-Man Dual Controls has built a great reputation in the sector and I wish it and the new shareholders every success in the future.”
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