International legal practice Osborne Clarke has advised leading tailor-made wintersports operator, Ski Solutions, on the management buyout of Highlands-based adventure operator, Wilderness Scotland, after securing £3 million of follow-on investment funding from existing investor, Mobeus Equity Partners.
Client partner Tim Hewens advised Mobeus on its initial £6m investment in Ski Solutions in August 2017 to back a secondary buyout led by CEO, Craig Burton. The company had already planted the seeds of a group strategy with the acquisition of BSpoke (October 2014) and Cycling for Softies (October 2015). By partnering with Wilderness Scotland and Wilderness Ireland the Active Travel Group has built a geographically and seasonally balanced, collection of activity and adventure businesses.
The Osborne Clarke team was led by Private Equity Partner Tim Hewens:
"Mobeus are a long standing client and it was a pleasure to work again with Mobeus and Craig on the formation of the Active Travel Group. The UK travel industry continues to grow and present dynamic opportunities for investors", said Tim.
Tim was supported on the transaction by Senior Associate James Taylor, Associates Kate Robinson, Isaac Paine, Lara Flynn and Associate Director Victoria Dingle.
Osborne Clarke has a strong presence in the UK private equity market and this latest deal is one of a number of successful transactions the private equity team has worked on in the retail and consumer travel sector, including the management buyout of Class Tours in October 2017, advising Travel Department’s management team on an investment from MML Growth Capital Partners Ireland in February 2018 and advising Mobeus on the 8.4 million MBO of T&G in August 2018.
