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HW Fisher have advised Colorado-based manufacturer of premium fly-fishing products, Mayfly Outdoors, on its acquisition of Airflo, a UK-based fly line manufacturer.
As this was the company’s first UK deal, HW Fisher offered expertise and advice on British tax rules and performed due diligence on the acquisition, as the UK was previously unknown territory for the US-based entity. The team also advised on company structuring as the acquired firm had to first be carved out of its parent entity, BVG, before the acquisition could go ahead.
The team, led by Gary Miller, offered advice on the financial aspects of the business purchase agreement which dealt with the carve out and then the subsequent sale purchase agreement, which would oblige both parties to enter into the deal.
Gary Miller, Corporate Finance and Audit Partner at HW Fisher, said, “It’s not every day we get the opportunity to work on a deal as unique as this. Fly-fishing is a niche industry, so we embraced the challenge of assisting in a sector unknown to most. Furthermore, this was Mayfly’s initial entry into the UK market, so it was up to us to provide valuable expertise on everything from accounting to taxation.”
About Mayfly Outdoors: Mayfly Outdoors is a Certified B® Corporation and Colorado-based outdoor products company. Mayfly subsidiaries operate under various brand names including Abel®, Ross Reels® and Airflo®. Combined, these businesses are the recipients of more industry “Awards in Excellence” for innovation, dependability and performance than any other fly-fishing tackle manufacturers in the world.
About Airflo Fishing Products: Airflo manufactures a complete range of specialist fly lines and Polyleaders utilising proprietary PU technology. Seen as one of the most innovative companies in the fly-fishing industry, Airflo has many fly line firsts, including the use of tungsten, low stretch cores and are the pioneers of welded loops. More information can be found at airflofishing.com