RECENT HIGHLIGHTS
CASE STUDY: SEASALT
We act for public and private corporates and individuals on a wide range of matters. Some of our recent deals and instructions include advising:
SOROS ECONOMIC DEVELOPMENT FUND (SEDF)
BRAC INTERNATIONAL on the transformation of its microfinance operation in Uganda into a bank, giving access to mainstream banking to many thousands of individuals HIGH-NET WORTH INDIVIDUAL on a multi-million pound cross border trusts dispute in the Cayman Islands which involving various family members, and complex corporate structuring in multiple jurisdictions RGL MANAGEMENT LTD on group action proceedings for multiple thousand claimants against Clydesdale Bank and National Australia Bank relating to their Tailored Business Loans THE MAYOR’S OFFICE FOR POLICING AND CRIME on its acquisition of The Empress State building in Earl’s Court for a purchase price of £250m SUTTON HARBOUR HOLDINGS PLC on a range of marine regulatory and marine licensing matters, including a multi-million pound coastal development
WHO IS SEASALT? Seasalt is a thriving national and international clothing brand owned and run by the Chadwick family. The business, which was founded in 1981, is based in Falmouth, Cornwall and has a turnover of £51m. In 2019, Seasalt hired its 1000th employee, making it one of the largest private sector employers in Cornwall. Seasalt was the first Soil Association accredited organic cotton brand. The business has a clear aim to do business responsibly by caring for its people, supporting its surrounding communities and minimising its environmental impact.
HOW MICHELMORES SUPPORTS SEASALT Michelmores has acted for Seasalt since 2016, on a range of legal matters, whilst also supporting the founding members of the brand, and their family, on private client matters. We provide Seasalt with a wide range of ongoing legal advice, including employment, IP, commercial litigation, corporate, tax, real estate and estate planning. In 2018, we acted for Chadwick Holdings Limited (Seasalt’s holding company) in connection with a £13m investment by Business Growth Fund. Santander Corporate and Commercial provided an additional £4.5m in funding, bringing the total investment to over £16m.
the impact investment fund established by billionaire George Soros, on the sale of its majority stake in the Indian venture capital firm, Aspada, to LGT, the investment management company owned by the Princely House of Liechtenstein MINDFUL CHEF on its £6m investment from Piper, a leading investor into fast growing consumer brands KOOVS PLC on its £12 million AIM fundraising to grow its e-commerce fashion business within the Indian market GOLDTREE on its merger with Natural Habitats Europe Africa that will drive the sustainable production of certified organic palm oil in Sierra Leone DOWNING on its exit of four anaerobic digestion facilities to listed infrastructure fund JLEN for more than of £60m
We have also recently helped Seasalt to establish its own charitable foundation.
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GRADUATE OPPORTUNITIES | 9
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