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Eversheds Sutherland lands lead role in sale of Norton Motorcycles

  • United Kingdom
  • Global

    20-04-2020

    Eversheds Sutherland has advised accountancy firm BDO, the administrators of Norton Motorcycles (UK) Limited and Norton Motorcycle Holdings Limited, on a GBP 16 million sale of the business and certain assets of Norton Motorcycles to a subsidiary of TVS Motor Company Limited, India’s third-largest motorbike manufacturer.

    The famous British motorbike company went into administration in January. Founded in 1898, Norton Motorcycles began making motorbikes in 1902 and is one of the last remaining British motorcycle brands, best known for its involvement in motorsport. Its bikes have also featured in hit films such as the James Bond movie Spectre.

    The Eversheds Sutherland team was led by restructuring Partner, Alex Mehdevy, and comprised Senior Associate James Williams and Associate Felicity Jordan (both restructuring). Legal Director Kate Ellis provided advice on the IP aspects of the deal.

    Alex Mehdevy, said:

    “We’re pleased to have completed this deal, the success of which is testament to the experience and combined capability of all those involved. This was a complex matter for many reasons, particularly owing to the historic multi-jurisdictional intellectual property rights being sold. We look forward to continuing our support on future matters.”

    Danny Dartnaill, BDO Business Restructuring Partner, said:

    “In challenging circumstances, we have been able to secure the future of the Norton brand. We are delighted that the sale to TVS Motor Company will protect jobs and provide a highly beneficial outcome to creditors.

    “The Eversheds Sutherland team pulled out all the stops to help us secure the best possible outcome. The team’s technical expertise and collaborative approach remained throughout, delivering well beyond our expectations. We look forward to continuing our work with them.”

    Slaughter & May acted for the buyer.

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