YFM backs Douglas Gill MBO

Alice Murray
30 September 2013

Tweet
Facebook
LinkedIn
Google plus
Send to

YFM Equity Partners has invested in the management buyout of technical sailing clothing and accessories manufacturer Douglas Gill.

Yorkshire Bank provided debt funding and working capital facilities to support the transaction. The investment will be used to develop the company's brand and help increase sales in new and existing markets.

The deal saw Steve Richards joining the company as non-executive chairman. Richards is currently chairman at Palamon Capital Partners-backed QaulitySolicitors and Waterbabies. He was previously CEO of Interflora and managing director of Manchester United Merchandising.

Company
Douglas Gill was established in 1975 by Nick Gill, who began by designing and producing technical sailing wear from his father's lace factory in Nottingham.

Today, the company generates revenues of £12m and employs 44 people at its Long Eaton site, just outside of Nottingham.

Douglas Gill manufactures sailing clothing and accessories, which it exports to 35 countries. International exports account for more than 70% of the company's turnover.

People
Douglas Gill's management team comprises managing director John Deverill, sales director Ryan Stewart and product director Matt Clark. The company's founder Nick Gill will remain as a non-executive director.

Paul Cannings, director, and Ian Waterfield, investment director, led the deal for YFM.

Advisers
Vendor – Clearwater Corporate Finance, Phil Burns, Gareth Iley, Sebastian Saywood (Corporate finance); Nelsons (Legal); RSM Tenon (Tax).
Management – Fraser Brown (Legal); RSM Tenon (Tax).
Equity – Grant Thornton (Financial due diligence); Osborne Clarke (Legal); RSM Tenon (Tax).
Debt – Gately (Legal).