Regional law firm Ellis Jones Solicitors has advised on the £12m sale of a leading UK motorcycle clothing and accessories brand based in Hampshire.
Neil Cook, partner and head of business services, led the Ellis Jones team that advised TranAm and completed the sale on its behalf.
Ellis Jones has six offices across the south and London with more than 170 staff including 22 partners.
Neil said: “This was a significant transaction for a family firm which has grown into one of the UK’s leading distributors and wholesalers of premium clothing and accessories.
“The company entered this deal with the benefit of a strong balance sheet and high profitability which allowed it to realise a multi-million pound sale price.
“It was a privilege to advise a local firm and its owners in a transaction which ties the future of the business with Duell, one of the leading European wholesalers, and paves the way for considerable growth.”
TranAm is a leading distributor and wholesaler of clothing and accessories for the motorcycling sector. It also has an offering of ski, snowboarding and pet accessories.
Founded in 1976, it employs 28 people in Gore Road, New Milton. Its managing director Peter Lloyd will continue to head operations at the firm following the deal with Duell. The company will continue to trade under the name of TranAm.
Peter said: “I am delighted to join our forces with Duell to grow our business jointly and as part of one of Europe’s leading powersports wholesalers.
“I believe we will achieve significant sales synergies by offering a more comprehensive product portfolio to our established customer base.”
Duell was established in 1983 and is based in Mustasaari, Finland. It employs more than 200 people. Duell is listed on the First North Marketplace.
It acquired the entire share capital and full voting rights of TranAm for an agreed purchase price of £11.875 million.
Jarkko Ämmälä, CEO of Duell, said: “I am very pleased that we can significantly strengthen our market position in the UK.
“The acquisition of TranAm provides us with fast access to the large UK market and a strong foothold to further grow our business by also bringing our own brands to a wide range of consumers in the UK through TranAm’s existing distribution channels.”
Contracts were exchanged on February 27.
Ellis Jones has offices in Bournemouth, Poole, Ringwood, Swanage, Wimborne and London.