Pictured: (l-r) Mark Rutherford, corporate partner at Gateley's Nottingham office; Simon Bursell, corporate finance partner at Dains; Matt Gowar, CEO of Equip Outdoor Technologies Ltd; Nick Pulley, East Midlands regional director for Santander and Hugh Strickland, corporate finance partner at Geldards  

The Nottingham office of national law firm, Gateley has advised specialist outdoor clothing supplier, Equip Outdoor Technologies Ltd (Equip) on a £20 million funding package to support its acquisition of iconic clothing and rucksack brand, Lowe Alpine.  Equip manufactures and distributes specialist clothing, bags and accessories for outdoor pursuits including the world renowned RAB range of mountaineering clothing.

Derby based Dains LLP were the corporate finance advisors on the acquisition, which includes funding by Santander and a £4.5 million private equity investment by Matrix Equity Partners (Matrix) who will take a minority stake in the business. 

Mark Rutherford, corporate partner in Gateley's Nottingham office advised Equip on the legal aspects of the acquisition. He said: "The RAB brand has been a real export driven British success story to come out of the East Midlands. Building on this success the Lowe Alpine acquisition will be an important step in Equip's future development as a leading outdoor pursuit business. The acquisition enables the company to bring this iconic brand back to the UK and redevelop the Lowe Alpine business, which has a long history of innovation and product development. It was an exciting deal to be involved in."

Simon Bursell, corporate finance partner for Dains business advisers commented:  "The economy and funding market has been challenging of late so we are delighted to have advised Equip on this substantial fund raising and acquisition. The successful outcome reflects well on the quality and entrepreneurial spirit of the team at RAB plus the tenacity and professionalism of all the funders and advisers involved in this complex cross border transaction."

Matt Gowar, CEO of Equip added: "The outdoor pursuits market has seen significant growth in recent years and through our RAB brand we have built a solid business, developing into one of Europe's fastest growing suppliers of specialist outdoor clothing. Our experience in this area and reputation amongst serious outdoor enthusiasts provides a solid platform to re-establish the Lowe Alpine brand.

"We have worked with Gateley on three other acquisitions and are always very impressed with their commercial and pragmatic approach and determination to get the job done. Their speed of response was crucial in helping complete this deal within the tight timescales required and they didn't fail to deliver. Meanwhile, Santander has again proven its commitment to our banking partnership, demonstrating a thorough understanding of our business and growth ambitions and finding us the appropriate funding package to take these forward." 

Jon Bennett, Relationship Director at Santander Corporate Banking East Midlands, said: "Equip are a great example of a well-managed, successful local firm.  We are proud to have been able to support them through this next exciting stage of their expansion journey and we wish them every success for the future."

Commercial law firm, Geldards LLP acted for Santander, led by Hugh Strickland, corporate finance partner.

The combined RAB and Lowe Alpine group employs over 90 people and is forecast for annual revenues of almost £30 million in 2012.     

For more information about Gateley, please visit their website here: www.gateleyuk.com