Law firm Browne Jacobson has advised on the sale of Hangar Seven to The Hut Group, a European online retailer of premium, non-perishable FMCG products for the health and beauty sectors, for an undisclosed consideration.
Corporate finance lawyers Richard Medd and Vicky Gaskell advised the shareholders on the disposal of the business which will see Midland’s based investment fund Catapult Venture Managers exit the business.
Leicestershire based Catapult is an independent venture capital fund manager which specialises in providing early, middle, and late stage growth capital to SME businesses in the healthcare, pharmaceuticals, luxury consumer brands, manufacturing and software sectors.
Hangar Seven, which was set up in 2009, specialises in content strategy and creation for some of the UK and world’s leading retail and consumer brands including Adidas, Boots, Monsoon, John Lewis, Unilever, Tesco, Sainsbury and B&Q. The agency employs over 200 people across its offices in Leeds, London, Macclesfield and Portugal.
Ed Wass, CIO at Catapult Ventures, says: “We are delighted that Hangar Seven has been such a successful story. Catapult backed the management team because we recognised that they had the passion, ideas, skills and enthusiasm to grow the business with our help. We are very proud to have supported them through this period of the company’s development. We would also like to thank the team at Browne Jacobson for their fantastic support, professionalism, expertise and knowledge of the business which was key in helping to get the deal completed.”
Jeremy Middleton, Hangar Seven chairman, adds: “Over the last five years Catapult Ventures has been a hugely supportive partner, with its investment and guidance, enabling us to successfully deliver our strategic goals. The management team now looks forward to the continued success of the business under new ownership.”
Richard Medd, corporate finance partner at Browne Jacobson, says: “We have been advising Hangar Seven since 2011 when Catapult first invested in the business. The business has gone from strength to strength and we are delighted to have secured a successful outcome for the shareholders.”
