2pure acquires Allcord

2pure has acquired technical climbing and mountaineering distributor Allcord.

The combined company will employ 35 people and all staff are being retained with no jobs lost as a result of the acquisition.

The company will represent top international brands and supply equipment to retailers throughout the UK and EU.

George Bowie, CEO of Edinburgh-based 2pure, said it would accelerate the company’s strategy to become a significant partner in the specialty outdoor market.

The acquisition is backed by private equity company Coralinn LLP, the investment vehicle of entrepreneur Hugh Stewart and owner of Allcord.

As part of the deal, Coralinn LLP will take a 25 per cent stake in 2pure and Stewart will become chairman of 2pure with Coralinn’s investment director, John Wardlaw, also joining the board of directors.

Bowie called the move an ‘exciting step’ in 2pure and Allcord’s development.

He said: "Allcord has been on our radar for a number of years, during which time we have become friendly competitors.

“Getting to know Hugh and John from Coralinn has enabled us to position ourselves to acquire and integrate Allcord which is predominately a complementary business.

“Our strategy is very clear and having the support of Coralinn will enable us to focus on the future expanding our markets.”

Stewart said: “We are excited about the opportunities that will come from combining the two businesses and look forward to working with George and Alison to grow the combined business.”

In other news...

Wattbike calls on PM to ‘do more’ for UK businesses hit with surging costs due to pandemic

Wattbike is calling on Boris Johnson to ‘do more’ for UK businesses who are being …