BGF is an established, independent investment company, with a balance sheet of more than £2.5 billion supporting earlier stage and established private businesses, and smaller listed companies.  Since it was set up in 2011, BGF has invested £3 billion in more than 460 companies.  Part of BGF’s investment in Myzone came from its recently launched UK Enterprise Fund (UKEF) established alongside Coutts, the private banking arm of NatWest, to provide clients with access to privately held, disruptive and diverse companies that are revolutionising their industries.

Myzone, which was created in 2011 by fitness industry expert Dave Wright and is based in the Isle of Man, currently serves over 9,000 facilities in 84 different countries.  Designed to engage and motivate people to be more physically active, Myzone is used in many of the largest health clubs around the world and has broken into new markets such as elite sports teams, hospitals, schools, universities, and the corporate sector.

The Appleby team was led by Isle of Man-based corporate partner Garry Manley, assisted by associate Sophie Corkish.  Appleby worked with Gowling WLG, which acted as English counsel to BGF, with the overall Gowling team led by Chris Towle and Christopher Letters.

“BGF is the UK’s most active growth capital investor, having invested more than £100 million in tech businesses in 2021, so we were delighted to be selected to support it on this transaction”, reflected Garry Manley.  “Myzone has experienced impressive growth since inception, and it is very exciting for the Isle of Man to be home to a global leader in the fitness tech space.  We wish BGF and Myzone well as they continue on their growth journey.”

Seb Saywood, who led the BGF investment team, commented: “Appleby’s support on this transaction was excellent.  Their team was always responsive, including during the holiday period, and they helped us to navigate a number of complex legal issues with advice that was always clear, commercial and pragmatic.”

Appleby’s Merger & Acquisitions Team regularly works with FTSE 100 and Fortune 500 companies around the globe to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions.

Appleby’s market leading Technology and Innovation Group comprises experts from Appleby’s 10 offices. Our team of experienced specialists provide advice across a broad range of emerging technologies, helping clients meet the challenges of this fast-moving sector.

Share
Twitter LinkedIn Email Save as PDF
More Deals
25 Jan 2023 | Deals

Appleby Isle of Man act for Alvarium on merger with Tiedemann

Appleby Isle of Man act for Alvarium on merger with Tiedemann

19 Dec 2022 | Deals

Appleby advises Lifezone Metals on its de-SPAC Business combination with NYSE-listed GoGreen Investments Corporation

Appleby has acted as Isle of Man and Cayman Islands counsel to Lifezone Metals, developer of cleaner...

7 Dec 2022 | Deals

Appleby acts on Transfer of Utmost Limited’s Entire Book of Long-Term Insurance Business

Appleby has acted as lead counsel on the transfer of Utmost Limited’s entire book of long-term ins...

21 Nov 2022 | Deals

Appleby acts for Zurich on sale of Singapore insurance business

Appleby is proud to have acted as Isle of Man legal counsel to Zurich International Life Limited on ...

11 Oct 2022 | Deals

Appleby Isle of Man advises Strix Group Plc on its equity fund raise

Appleby’s Isle of Man office advises Strix Group Plc on matters of Isle of Man law in connection w...

9 Dec 2021 | Deals

Appleby advise TISE listed Atlantic Leaf Properties Limited on sale of its UK logistics portfolio

Leading offshore law firm Appleby acted as Jersey, Guernsey and Isle of Man counsel to TISE listed A...

1 Dec 2021 | Deals

Appleby advises Quilter on GBP483 million sale of life insurance business

Leading offshore law firm Appleby has acted as Isle of Man counsel to Quilter plc on the £483 milli...

21 Sep 2021 | Deals

Appleby advises joint lead managers on £400 million sustainability bond issue by the Isle of Man Government

Appleby has advised the joint lead managers, including among others, HSBC and Santander on the Isle ...

15 Mar 2021 | Deals

Appleby advises on recommended cash acquisition of RDI REIT PLC

Appleby is acting as Isle of Man and BVI counsel to SOF-12 Cambridge BidCo Limited, a newly formed c...

4 Mar 2021 | Deals

Appleby advises on launch of new litigation funding business

Appleby’s Isle of Man office has advised on the establishment of Erso Capital, a new litigation fu...