Maw Comms news
Howes Percival advises on Pedal Revolution MBO
Howes Percival have advised the management team of Pedal Revolution on a management buyout from the company’s owners.
With stores in Norwich and Gorleston, Pedal Revolution is one of East Anglia’s most prominent independent bicycle retailers. The company also provides bike fit services, and workshop and repair services.
Led by Partner, Oliver Pritchard (supported by Richard Turner and Helaina Mann) Howes Percival advised the four-strong management team on the acquisition from Pedal Revolution’s owners who have operated the independent business for nearly 25 years. Howes Percival prepared and negotiated all the legal documentation and, oversaw the transaction from start to finish. Lovewell Blake LLP provided corporate finance and tax advice to the parties.
Commenting on the deal, Oliver Pritchard said, “Pedal Revolution is a very well-regarded business in the local market and the wider East Anglia region. With several keen cyclists in the firm, we were delighted to have been able to support this local business on the transaction. It is heartening to see the business staying independent and putting in place a succession plan to pass ownership on to the next generation.
“Corporate deal activity levels remained extremely buoyant throughout last year, and this looks set to continue. The team is currently working on a large number of transactions across a range of business sectors.”
For more information on Howes Percival’s Corporate team or help with acquisitions or disposals, please visit our website here https://www.howespercival.com/services/corporate/
For further information please contact:
Gordon or Liz at MAW Communications on 01603 505 845
Notes to editors:
Picture: (L to R) Gareth Edwards (Seller), Richard Turner (Howes Percival), Ben Turner (MBO Team), Oliver Pritchard (Howes Percival), Kate Warner (MBO Team), Matt Watts (MBO Team), Helaina Mann (Howes Percival), Neil Turner (Seller). The photographer and the copyright owners are Howes Percival.
Howes Percival has offices in Cambridge, Leicester, Manchester, Milton Keynes, Northampton and Norwich. It has 51 partners and 169 lawyers in total.
The firm is recommended in The Legal 500 – the authoritative guide to the UK’s leading law firms. In the 2022 guide, no fewer than 11 different departments achieved the guide’s highest possible ranking (Tier 1): Corporate and Commercial; Dispute Resolution – Commercial Litigation; Dispute Resolution – Debt Recovery; Finance – Insolvency and Corporate Recovery; Human Resources – Employment Law; Private Client – Agriculture and Estates; Private Client – Tax, Trusts and Probate; Real Estate – Commercial Property; Real Estate – Property litigation; Real Estate – Environment & Planning; Intellectual Property.