2020 annual review
2020 annual review
Fast sale secures future for swim brand Zoggs Zoggs, a highly recognised international swimming brand, was founded in Australia in 1992 and has a presence in 45 countries. However, the COVID-19 pandemic and subsequent closure of leisure pools around the world saw the business experience a severe decline in revenue, and face significant financial pressure.
Accelerated sale secures strong future for ADC ADC started as a specialist contract research organisation focusing on Antibody Drug Conjugates for cancer treatment; it has developed a profitable contract research organisation (CRO) offering, and then raised significant capital to invest in state-of-the-art facilities. However, after the company failed to secure a manufacturing licence, it appointed FRP to advise the board, and undertake an accelerated M&A.
3 3 weeks
The offer ensured the continuation of the company and the commitment of significant future capital. Heath Snyder Corporate Finance
The number of weeks it took for FRP to identify and secure Head (UK) as buyer for swimming brand Zoggs.
Outcome
FRP was engaged to find a new financial partner or buyer for the company. Our team approached over 70 interested parties in the UK and overseas, and within three weeks had identified Head (UK) Limited, part of Head Group, global sporting goods brand owner, as the preferred buyer. The subsequent sale ensured the survival of the iconic Zoggs brand, and provided a well-resourced parent company to help drive future growth.
Outcome
Our teams provided fully integrated services and support, leading the accelerated M&A process and a short-term cashflow review, and managing multiple stakeholders including four institutional funds and numerous high net worth investors. We completed the process in nine weeks and against the backdrop of the ongoing pandemic, securing a deal with established contract development and manufacturing organisation Sterling.
Special situations M&A
Special situations M&A
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