Fox International gets private equity boost
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Fox International, the largest privately-owned tackle firm in Europe, has been given investment funding from a private equity firm.
The UK business, which was close to being purchased by Zebco earlier this year, has announced a significant cash boost from Next Wave Partners. The investment in Fox is believed to be close to £30m for a business that currently sells tackle in 30 countries, including Russia and the US.
The multi-brand manufacturer was founded more than 45 years ago in a rented workshop by current owner, Cliff Fox, with the first product to bear the Fox name – a metal baitdropper – appearing in 1967.
Fox will remain as a director of the company, while Deputy Chairman, Andy Little, has announced his intention to retire, although he will be retained as a consultant. The senior management team of Paul Reeves, Shaun McSpadden, Andre Akkermans and Richard Teale, are set to stay with the company.
Fox operates in the coarse, carp, match, predator and sea markets and has a huge distribution centre in Meer on the Belgian/Holland border.