One of Britain’s oldest bicycle manufacturers is being put up for sale amid a continuing surge in consumer interest in cycling.
Sky News has learnt that the owners of Ribble, which was founded in 1897, have appointed advisers to prepare the company for an auction in the coming months.
Stifel, the investment bank, has been hired to handle the process, which is at a very early stage.
Ribble has expanded beyond its core range of road bikes into fast-growing areas such as e-bikes, Gravel and Hybrid categories.
Subscribe to our Newsletter to increase your edge. Don’t worry about the news anymore, through our newsletter you’ll receive weekly access to what is happening. Join 120,000 other PE professionals today.
The company has been owned by True Capital, an investment firm which specialises in backing consumer-facing businesses, since 2016.
It took its name from that of the river which flows through Preston, the Lancashire town where it was founded.
Ribble is now understood to have plans for a significant international expansion, as well as to grow its market share in the UK.
Consultants at McKinsey have forecast that direct-to-consumer bike sales will grow at a compound annual growth rate of 19% between 2022 and 2025.
Industry sources suggested that larger private equity firms were likely to be interested in bidding for Ribble.
Neither Ribble nor True Capital would comment.
Source: Sky News
Can’t stop reading? Read more
Oscar-winning Lion Forge secures $30m from HarbourView to expand IP portfolio
Oscar-winning Lion Forge secures $30m from HarbourView to expand IP portfolio HarbourView Equity...
Klarna set to price IPO above range as demand surges for $1.27bn listing
Klarna set to price IPO above range as demand surges for $1.27bn listing Klarna is preparing to...
Dragon’s Den star Touker Suleyman bids to rescue Claire’s UK stores
Dragon’s Den star Touker Suleyman bids to rescue Claire’s UK stores Touker Suleyman, investor and...