HMT LLP have completed a combined buyside advisory engagement comprising debt advisory and financial due diligence for Ethos Partners on their investment in UK leading golf trolleys and accessories retailer Motocaddy Holdings to support the MBO.
Founded in 2004, Motocaddy aims to bring the very best in design, build and functionality to golfers of all ages and abilities looking for reliable and affordable golf trolleys. They have developed an award-winning line of electric and push models available in over 40 countries worldwide.
Motocaddy also produces and distributes a wide range of golf accessories including electronic and push golf trolleys, bags, rain covers, caddy racks, umbrellas and spare parts such as batteries, trolley wheels, adapters, switches and buttons.
Ethos provided £22m funding on this transaction which also saw Beechbrook Capital provide a unitranche debt facility to support the MBO.
The investment will be used to expand Motocaddy’s international presence and develop new products.
This combined engagement is another example of HMT’s fully integrated corporate finance practice working together as a one stop shop for transaction advisory services.
Sandy Farmer, Partner at Ethos commented:
“HMT provided us with invaluable advice throughout this transaction offering support that regularly went above and beyond the call of duty. Their professionalism, perseverance and insights were instrumental to get the deal done.”
Paul Read commented:
“We are delighted to have assisted Ethos and Beechbrook on their investment to support the MBO of Motocaddy. The business has enjoyed a strong growth on the back of developing some of the most innovative golf trolleys available. With Ethos and Beechbrook’s support, Motocaddy is well placed to to deliver projected growth worldwide.”