Fox Williams LLP acted for Cricket Bat Acquisition Company Limited (“CBAC”), a newly-formed investment company backed by investors from Deutsche Bank and Mirabaud, on its acquisition of the business and assets of Mongoose Cricket Limited (in administration) (“Mongoose”) from its administrator, Stephen Grant of Wilkins Kennedy.
The core of the Mongoose business is the development and manufacture of revolutionary cricket bats, focussed primarily on the Twenty20 limited overs game. Its leading product is the Mongoose MMi3 short-bladed bat, which is claimed to offer 20% more power than a conventional cricket bat, with a much larger sweet spot.
Fox Williams Corporate Partner, Paul Taylor, commented: “We are pleased to have completed this interesting transaction on behalf of an exciting new player in the world of cricket. This transaction highlights our experience and commitment, as a firm, to advising new and growing businesses, especially in circumstances where assets are acquired from administrators or other insolvency practitioners. We look forward to working with CBAC in continuing the development of revolutionary products on the global cricketing field”.
Paul Taylor and Tom Rowley advised CBAC. Harriet Calahane and Tal Berry of Wedlake Bell LLP advised the administrator.