Osborne Clarke advises Passenger on incoming investments
Legal practice Osborne Clarke, a firm with offices in Reading, advised outdoor clothing brand Passenger on consumer-specialist investment firm Growth Partner's acquisition of a minority stake in the company.
Growth Partner invested £15 million in Passenger who were advised by an Osborne Clarke team lead by partner Rob Wood, and further comprised of senior associate Sian Daly and paralegal Susannah Cox.
Investment also came from Steve Hewitt, the CEO of Gymshark.
Rob Wood said: Rob said: "We have very much enjoyed advising Passenger and its shareholders on the next stage of their journey. With strong values and sustainability at its core, Passenger is a truly responsible business that understands what its customers want."
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Passenger makes sustainable outdoor clothing, with 90 per cent of the range using low impact materials such as recycled cotton, recycled polyester, hemp and organic cotton. For every order Passenger receives the company plants a tree, with over 500,000 trees planted locally. The company has also protected 28,000,000 sqaure metres of rainforest through The Rainforest Trust and Trees For The Future.
Former executive chairman of Passenger Justin Stone said: "It's been a pleasure working with Rob, Sian and Susannah on this transaction with Growth Partner and Steve Hewitt. The team at Osborne Clarke clearly understood our needs and provided excellent advice throughout the process, always being available and helping us deliver to a tight timetable".
