Equestrian helmet to apparel venture Finest Brands International, whose biggest brand Champion has its manufacturing operation in Cardiff, has been majority acquired by TDL Media.
The family-owned business was set up 40 years ago as a mail order saddlery business by the late John Ayres and his wife Bridget. It is currently run by their daughter Sarah-Jane Fedarb. The family, who have retained a minority stake in the business, were advised on the deal by Cardiff-based Lexington Corporate Finance, led by Tom Coombes.
TDL Media is a sports programme services and media investment firm based in Ireland. It is the investment vehicle of Setanta Sports co-founder, Michael O’Rourke.
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The value of the deal was not been disclosed. Finest Brands, which is headquartered in Leeds, is recognised globally as one of the leading providers of safety riding helmets and has carried the British Standards Institute kitemark since its inception. Its Champion brand makes helmet and body protectors for riders. Its Toggi brand produces a range of clothing and footwear while Pro-Line, also based in Cardiff, manufacturers sports products. The Lexington team worked alongside the family to market the business to a number of interested parties, structure the transaction and project manage the process through to completion.
Mr Coombes said: “The three brands owned by Finest Brands are standout in their field and the Champion brand is an important manufacturing employer in South Wales. We’re proud to have closely worked with the family on this deal, and have secured a long term home for some of the most prominent brands in the 海角视频 heritage sporting market.
“This transaction adds another important credential to Lexington’s manufacturing and consumer credentials. We look forward to seeing the brands grow further globally under TDL Media’s ownership and wish Sarah-Jane and the founding family the best for the future.”
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Ms Fedarb said: “The Lexington team were alongside us throughout the process and helped us navigate what was a complex decision for the family. They took the time to understand our culture and our history. Lexington helped us find a partner in TDL who we firmly believe will continue with the values and ethos that my family has worked hard to ensure run through the business, our ethics, our ethos, our handmade British manufacturing and the loyalty to our valued and dedicated teams in the group.”
Mr O’ Rourke said: “It is with great pride and joy that we take the reins at Finest Brands. Champion, Toggi and ProLine are brands which are rich in history let like us are very much focused on the future. We’re excited to see what can be achieved.”
Legal advice to the shareholders was provided by Blake Morgan (Richard Jones and James Bowen), with tax advice from Azets.