1st MX Limited
ACQUIRE have successfully Sold 1st MX Limited, a leading On-Line / E-Commerce Retailer of Branded Motocross Products and Accessories.
- Reference: 1504
- Location: Midlands
- Area of Business: Nationwide
- Sector: Online / E-Commerce
- Turnover: c. £3.5m
- Reason For Sale: Retirement
- Acquired By: Gro Automotive
- Completion Timeline: 14 Weeks
With over 20 years establishment, 1st MX Limited are one of the UK’s most recognised online retailers of Motocross clothing, helmets, boots and accessories, and represent the industries leading Motocross clothing and accessory brands.
The sale was successfully brokered against competing offers to Gro Automotive Ltd, a group of four expanding E-Commerce companies focussed on the automotive aftermarket and vehicle accessories sector (combined turnover of c.£13m) with exciting future growth plans centred on organic projects and strategic acquisitions.
“We are delighted to have completed the acquisition of 1st MX, a prominent retailer of motocross products and accessories, and are excited by the growth opportunities that exist within the business. 1st MX is Gro Automotive’s first acquisition and we will continue to look for acquisition opportunities that have synergies with the Group and offer high growth potential.” Tanja Willis | Gro Automotive
ACQUIRE are delighted to announce the completed sale of 1st MX Limited having initially introduced no fewer than 20 qualified potential acquirers via an extensive and targeted confidential marketing campaign. A definitive Heads of Terms agreement was signed between the sellers of 1st MX Limited and Gro Automotive within 5weeks of Acquire being instructed to confidentially find buyers for the Company, sale completion was achieved within 14weeks.
Legal advice was provided to the Sellers by Matt Worsnop, Corporate and Commercial Partner at BHW Solicitors in Leicester.
Acquire Business Sales provided the sellers with a confidential route to market that included:
- Confidential ‘no-cost’ consultancy on Business Valuation and Marketing Strategy prior to instruction
- Production of professional sales documents focused on the Key Features of the opportunity
- A research led marketing plan that identified trade / strategic acquirers
- Confidential buyer introductions directly executed using an anonymous acquisition summary
- Buyer qualification, signed NDAs and seller authority prior to disclosure of the Business’s identity
- Buyer / Seller meeting arrangements & follow up services
- Extraction of offers for the sellers consideration
- Offer appraisal including identification of potential risk areas to the seller
- Deal / Heads of Terms negotiation
- Deal management, buyer liaison and seller support through to completion