Freeths team advises on strategic partnership between Hiplok and uvex
Freeths corporate team has advised on the disposal of a majority shareholding in Plus 8 Industries Limited (trading under the brand name Hiplok) to the German family-owned uvex sports group.
Hiplok was founded in 2011 when co-founders and product designers Ben Smith and John Abrahams launched the world’s first wearable bike lock. The pair have continued to develop a range of award- winning products each year, expanding the brand’s security and storage line up and contributing to strong year on year sales growth. Under the new partnership, the co-founders will continue at the helm as the brand embarks on the next phase of its ambitious product development and international growth plans.
Uvex group, to which uvex sports group belongs and which remains privately owned by the Winter and Grau family, has a long history of protecting people with its class-leading sports and industry equipment. Hiplok will join the uvex sports group portfolio of brands, alongside uvex and ALPINA, bringing together expertise in protective gear and security.
Freeths advised the shareholders of Plus 8 Industries Limited. The team at Freeths comprised of Corporate Partners, Malin Svanberg Larsson and Lee Clifford and Corporate Senior Associate Olivia Johnson.
Malin Svanberg Larsson said “It was a pleasure to advise the shareholders on this deal and see investment that will allow Hiplok to drive its product development and international growth ambitions. It was a fantastic achievement for all involved and I wish the team at Hiplok every success as they take the business forward with uvex”.
Ben Smith, co-founder of Hiplok, commented, “Our partnership with uvex sports group, a company whose people share our business values, commitment to quality and vision for innovation, provides a platform for delivering the next generation of Hiplok products to more cyclists and outdoor enthusiasts around the world. The team at Freeths did a fantastic job of advising us and getting the partnership in place”.
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