SourceHub - acquisition of OZtrail
HopgoodGanim Lawyers recently acted in the acquisition of well-known camping and outdoor leisure brand, OZtrail. The acquisition was undertaken by a special purpose vehicle formed between Brisbane entrepreneur, Vanessa Garrard (via her company, SourceHub Pty Ltd (SourceHub)) and private equity firm, Odyssey Private Equity (Odyssey). Odyssey is the owner of the Lorna Jane brand. The transaction involved the formation of the special purpose company, the merger of Sourcehub into the new corporate group and the acquisition of the family-run company which owns the OZtrail brand. Vanessa Garrard is CEO of the new corporate group.
Partner, Michele Muscillo and Senior Associate, Richard Hanel represented Vanessa Garrard/SourceHub in the transactions, with Odyssey represented by Matthew Fitzgerald at Herbert Smith Freehills. The financial advisors for the transaction were Dan Cotton and David Fenton from Moore Stephens.
The complex deal started with contract negotiations back in the middle of 2017 and was completed in January 2018.
Partner, Michele Muscillo, is proud of the way the firm was able to represent SourceHub’s interests.
“The full-service capability of HopgoodGanim really shone through on this deal.”
“The elements and complexity of the transaction required a high level of team work across the firm and we were pleased to be able to demonstrate our capabilities throughout the duration of the transaction.”
“We’re excited to see the development of the OZtrail brand under the guidance of Vanessa and with the backing of Odyssey Private Equity,” stated Michele.
SourceHub was founded by Vanessa Garrard in 2006, with the objective to develop unique design-led products in the consumer electronics and stationery segments. Greencross founder and entrepreneur, Glen Richards is an investor in SourceHub and remains involved in the new corporate group.
Vanessa has been ranked in Australia’s Top 30 Female Entrepreneur list every year since 2010 and was named the 2011 Telstra Young Business Woman.
OZtrail was founded in 1992 and has remained Australian owned and operated.