Member Article

Fund drives forward golf trolley business

The Manchester office of Gateley Legal has advised Beechbrook UK SME Credit Ltd on the provision of a term loan facility and equity co-investment to Motocaddy.

Hertfordshire-based Motocaddy was founded in 2004 and is the world’s top-selling powered trolley brand. The company prides itself on the design, build and functionality of its golf trolleys. The loan facility will equip Motocaddy with the funding it needs to continue with product development and expansion into new markets.

Rick Sealy, a Banking & Finance partner for Gateley Legal, led on the deal with support from solicitor Catherine Donnelly and paralegal Kady Upton. Corporate support was provided the Birmingham office of Gateley Legal led by Corporate partner Andrew Cowan and solicitor Poppy Wilkinson.

The transaction was led by Ethos Partners, a private investment office set up by private equity professionals to provide £3m-£10m of supportive equity capital to established, ambitious UK companies..

“We are pleased to have acted for Beechbrook UK SME Credit Ltd and are thrilled to have played a role in the provision of a term loan facility to Motocaddy Holdings Ltd,” said Rick. “Motocaddy are innovators in the powered and non-powered golf trolley sector and this funding will help them accelerate their product and market development plans to bring forward the next generation of golf trolleys to the current market and develop further markets.”

Jon Herbert, Managing Director for Beechbrook UK SME Credit Ltd, said: “Our investment in Motocaddy is a fantastic example of the type of business we are looking to support thanks to the strength of the management team, the quality of its product offering and the performance of the business to date. The additional capital invested will provide the growth capital needed to scale up Motocaddy successfully.”

This was posted in Bdaily's Members' News section by Jessica Guy .