- Duke Royalty delivered £10.0 million of capital to Miriad Products, the UK’s largest privately-owned recreational vehicle parts wholesale company, in February 2019
- The royalty finance agreement enabled the existing owners to partially realise their investment in Miriad in line with its strategy to foster a new ownership structure
- This made equity available to build the Board and to incentivise a strong second tier team to grow the business
“Duke’s capital was a perfect fit for our objectives. Being owners for 20 years, the nature and flexibility of Duke’s capital means we can continue to be involved in the future of the business, while receiving value for what we have built to date. Duke provides us with a key stepping stone in our long-term succession planning, and enables us to offer the right sort of incentivisation to attract new members to our shareholder team.”
Group Managing Director of Miriad
Miriad has been established for over 40 years in the recreational vehicle and leisure industry, supplying and distributing to retailers and OEMs across the UK and Europe.