November 2016 – GCP announces its second deal in a week with the investment in AMG Group
GCP announces its second deal in a week with the investment in AMG Group, a specialist supplier of branded outdoor equipment
Growth Capital Partners (“GCP”) is pleased to announce that it has completed an investment in AMG Group Ltd (“AMG”) a Glasgow based supplier of branded camping, ski & outdoor equipment. GCP is investing alongside the management team to enable shareholders to realise value and to support the future growth plans of the business.
AMG was founded in 1966 and celebrated its 50th anniversary this year. Its roots can be traced back to 1847 providing equipment for many historic expeditions, the Scouts, Duke of Edinburgh’s Award and generations of outdoor enthusiasts.
Renowned for designing and developing expedition equipment used for decades in the world’s most extreme environments, AMG has, over time, expanded its ranges to include family tents, awnings, sleeping bags, rucksacks and camping equipment. Its impressive portfolio includes market-leading brands such as Vango®, F10 Series®, Lichfield® and Blacks of Greenock®. In addition, AMG has been the long term distribution partner for leading ski brand, Rossignol®, Swedish stove brand Trangia® and Wayfayrer® expedition food.
A pioneer of innovation in outdoor equipment, AMG has a reputation for designing gear that breaks new ground and driving value to the market most recently, through the introduction of Vango Airbeam® in 2011. Vango created the inflatable tent category, adding fresh energy and value to the camping market. In 2013 the business entered the Caravan and Motorhome market with their Vango Airbeam® technology and captured significant market share.
The AMG senior management team are investing alongside GCP and will continue to lead the business post-completion. Stephen Newlands (CEO), Stephen Craig (Commercial and Financial Director) and Glenn Andrews (Product and Development Director) have worked together in the business for over 20 years and led it for 14.
GCP is backing the senior management team in their growth plans for the business through developing new products, investment in the AMG brands, geographical expansion and continuing to work closely with their core customers in supplying high quality products.
Stephen Newlands, CEO of AMG commented:
“As the business continues to deliver against our long term growth plans, we are delighted to welcome GCP as a shareholder in AMG and a partner in the business. GCP has been supportive and proactive to deal with throughout the transaction and they have delivered on what they promised at the outset. We believe they will be a great fit with the AMG culture and we look forward to an exciting future for the business.”
Kirsty McDonald, Partner at GCP commented:
“AMG has a long history in supplying high quality outdoor equipment, a well-established market position and highly regarded brands. We believe AMG is a good fit for GCP, backing an impressive, entrepreneurial management team that is hugely experienced in the outdoor market and seeking a like-minded partner to support growth. ”