King & Wood Mallesons (KWM) has advised global action sports and youth apparel retailer, SurfStitch Group Limited, on the A$17 million sale of its surfboard manufacturing business, Surf Hardware International (SHI).

The sale of SHI to a wholly owned subsidiary of Gowing Brows Limited represents an important step in SurfStitch’s ongoing renewal process.

The KWM team was led by Matt Egerton-Warburton, Shannon Finch and Oliver Kabongo.

Mr Egerton-Warburton said the strategic divestment of SHI is a positive outcome for SurfStitch.