Brachers advises the management team and directors of Cave Direct on MBO

Brachers’ Corporate team has advised the management team and directors of Cave Direct Ltd on its successful management buyout (MBO).

Established in 1979, Cave Direct is the UK’s leading craft beer wholesaler, importing and distributing specialist beers from around the world.

The MBO sees Cave Direct Ltd founders Colin Gilhespy and Louise Smale sell the business to its management team while remaining in the business as a director and chairman of the Board.

Brachers’ team was led by Corporate Partner Matthew Simmonds and included Alistair Wickham (Corporate Associate), Cameron Gaston-Penny (Corporate Solicitor), Joseph Burrows (Corporate Solicitor) and Charlotte Berthel (Corporate Paralegal). Kreston Reeves also advised on the MBO, providing lead advisory, structuring a tax advice.

Colin Gilhespy said: “Putting in place a succession plan that ensured continuity for our staff customers and suppliers was crucial in implementing this new structure. After our very humble beginnings, I am thrilled that Cave Direct can now continue in the same vein and has a very exciting future in the hands of our new shareholders and board members whilst retaining the family involvement.”

Matthew Simmonds commented: “We are so pleased to have been able to work with the management team at Cave Direct on their successful MBO. The team have worked in the business for many years and have helped turn Cave Direct one of the UK’s leading importer, wholesale and distributor of craft beers from around the world. Congratulations to Neil, Laurence, Michael and Anthony on their successful MBO. I am sure that the Cave Direct business will continue to flourish under their ownership. My congratulations also to Cave Direct’s founders Colin Gilhespy and Louise Smale who built the Cave Direct business into the hugely success that it now is. It is great that they have backed the team that they have built to take that success further.

“I am really grateful to Scott Miles and Jak Hill at Kreston Reeves for all of their help during the transaction, together with Alistair Wickham, Cameron Gaston-Penny, Joe Burrows and Charlotte Berthel from our team. My thanks also to the team at Outset who worked with the founders on the MBO.”

This content is correct at time of publication