Shoosmiths acts for Kondor in MBO

Shoosmiths acts for Kondor in MBO

Published:

Author: Allan Bisset

National law firm Shoosmiths has acted for the shareholders of Kondor Limited in a management buyout transaction backed by HIG Capital, allowing chairman and founder of Kondor, Malcolm Bartlett, to exit the business.

The Kondor management team, led by CEO Rob Haycock, is reinvesting in the business which provides mobile and consumer electronics accessories into the UK and European retail markets.

The Shoosmiths team was co-led by partners Sean Wright and Lynn Knight, who first worked with Kondor in 2005 when Malcolm Bartlett re-financed the business and provided an exit for ISIS Equity Partners.

Sean Wright commented: 'We are delighted to have supported Malcolm, Rob and team in this transaction, which promises to be the start of an exciting new phase of growth and evolution for Kondor.'

Malcolm Bartlett added: 'Having worked with Lynn and Sean for over nine years, I have always been impressed with their professional expertise and drive. They provided invaluable advice throughout the deal process and showed tenacity and determination to complete the deal in a challenging timescale.'

Founded in 1994 by Malcolm Bartlett, Kondor has evolved alongside the rapid growth in the smart phone and tablet market. Today it supplies a wide range of accessories including headphones, cases and speakers, working with global brand partners including Beats By Dr Dre, Skullcandy, Sony and Samsung.

Shoosmiths continues to work with Kondor in order to meet the ongoing legal needs of the business. CEO Rob Haycock said: 'The Shoosmiths team worked diligently from the outset, identifying issues and resolving them pragmatically. I look forward to a continuing relationship with their team.'