Squire Patton Boggs has advised New Wave Group AB on the £33 million acquisition of Birmingham-headquartered clothing company BTC Activewear Limited.
The team advising New Wave Group was led by Corporate partner Geoff Perry, and included associates Indy Bening and Leyla Parvizi.
Established in 1990 and listed on NASDAQ Stockholm, New Wave Group AB is a Sweden-based company that designs, acquires and develops brands and products for the corporate promotions, sports, gift and interior design sectors.
BTC Activewear is one of the largest UK-based multi-brand distributors to the promotional apparel, corporate wear, workwear, teamwear, schoolwear, and both high-street and online retail markets. With around 50 leading international brands in the portfolio, BTC Activewear services a broad range of market sectors. In 2021, the company turnover was £53 million.
The UK is one of Europe's largest markets for profile products, with a clear trend towards an increased focus on own brands. Together with BTC Activewear, which has a broad and established customer base, New Wave Group will have a strong platform for distribution of the group's brands in the UK.
Geoff Perry commented: “We are pleased to support New Wave Group on this acquisition, which will help further its aim to become Europe’s leading sports wholesaler and supplier of corporate clothing. The Group will benefit from BTC Activewear’s strong presence in the UK, whilst also expanding its product range and gaining access to new customers.”