How did we help Gymshark?
In 2020 we advised Gymshark on all aspects of a minority investment by private equity firm General Atlantic. The transaction process commenced in June and reached signing within a 10-week period utilising technology to support global remote working due to the COVID-19 lockdown restrictions. The transaction valued Gymshark at £1bn+ equity value and saw them join an exclusive list of fewer than 25 British companies to have secured unicorn status since 2001. Founder Ben Francis has retained a majority stake of over 70% whilst co-founder shareholder Lewis Morgan exited the business in full as part of this transaction. The deal will help support the brand further as it continues its growth in the global athleisure market.
Gateley was involved throughout the investment process, designing the programme for selecting a corporate finance adviser, as a result of which PwC was successfully appointed. Gateley then worked closely with the Gymshark shareholders and PwC and to deliver a global deal in a COVID-19 environment. The full range of specialists from across Gateley Legal were involved in this deal, from corporate to data protection, from IPR to employment, from pensions to real estate, not forgetting tax, insurance and banking experts.