Concept Cycling Pedals Away With £12.5 Million Management Buy-out

Clearwater rådgiver

Manchester-based Concept Cycling Limited has been bought by its management in a £12.5 million deal. Concept, along with its two subsidiaries – Acorn Sports and Leisure (UK) Limited and Wheelbase (UK) Limited – is a £30 million group turnover business that imports and assembles bicycles and sells accessories. It is one of the largest suppliers of bicycles in the UK. The deal has been led, structured and arranged by Clearwater International. Funding was provided by Lloyds TSB Commercial Finance and supported by Lloyds TSB Corporate, which will continue to provide foreign facilities. The Concept Group has a core customer base of over 1500 independent bike dealerships into which it sells its Concept, Integra, Saxon, Reflex, Coyote and Viking brands. In recent years Concept has shown strong growth in all market sectors and now operates from seven sites situated in the North of England and Wales.

“We’ve been close to the business for a number of years and the MBO is a natural progression for the management team. This is a strong management team, with a great business and having the support and commitment of the vendors and a very supportive bank is a real recipe for success.”

Paul Jones, Partner, Clearwater International