A multi-disciplinary team of Keystone lawyers have advised the fitness tech group Myzone and its shareholders on its $17.2 million investment from BGF, the UK’s most active growth capital investor, and incoming non-executive chairman Vin Murria OBE. The investment values the group at $102 million.
Created in 2011 by fitness industry expert Dave Wright and headquartered in the Isle of Man, the global manufacturer of wearable fitness tracking technology has grown to serve over 9,000 facilities in 84 different countries, with over two million shipped devices. The investment from BGF will accelerate the company’s growth plans.
The Keystone team advised Myzone’s management and shareholders on the multi-jurisdiction deal, including advising on Isle of Man and English corporate, commercial, tax and employment laws.
Led by UK corporate partner Will Nash, the team brought together Keystone lawyers based in the Isle of Man and in the UK, including corporate and commercial partner Stephen Rodd, tax solicitor Michael Fluss, tax partner Paul McCourt, tax partner Andrew Terry, employment partner Jane Wheeler and trainee solicitor Adam Tarr.
Commenting on the transaction, Will Nash said:
“Myzone has experienced fantastic organic growth to this stage and, with BGF’s investment and tech entrepreneur Vin Murria’s experience, is well placed to target further significant growth. I was delighted to work with Phil Whittam and the wider management team on this investment and to leverage the joined-up corporate and tax expertise in both the UK and the Isle of Man which Keystone Law is uniquely able to offer.”