The Corporate Team at Trethowans Solicitors have advised the shareholders of He-Man Equipment Limited on the sale of the entire share capital to HM Holding Ltd, an investment vehicle primarily backed by a group of investors including Jon Moulton, one of the UK’s best known private equity investors.
He-Man Equipment Limited, which trades as He-Man Dual Controls, is based in Southampton and has been in existence since 1931. As the dual controls system of choice for most car manufacturers and driving instructors, He-Man is the UK’s leading dual control supplier.
Adrian Field, Investment Director for HM Holding, commented: "We are pleased to back the management buy-out of the business and the transaction went very smoothly. We are excited about the future prospects for this company given its unique designs and its well-recognized high-quality products."
The corporate aspects of the transaction were dealt with by Partner, Mike Watson, alongside Jamie Earley and Arcadius Gregory. Steve Pittaway, of Taktika Business Solutions, who had previously provided management consultancy services to the company and acted as non-executive chairman, project managed the deal on behalf of the sellers.
Mike Watson commented: “We were delighted to assist the shareholders of He-Man Equipment Limited and it was a real pleasure to work with them and the management team on this transaction. He-Man Dual Controls have built a great reputation in the sector and I wish them and the new shareholders every success in the future.”
Former shareholder of He-Man Equipment Limited, Lionel Saph, said: “I’m grateful for the support and guidance we received from Trethowans and Steve Pittaway. I also wish HM Holding and the management team every success with the business in the future.”