Luxury cycle-apparel brand Rapha is again the subject of takeover reports. Sky News said it has learned that two private equity groups have launched bids to nab the brand.
TPG and Advent, the private equity groups, have tabled takeover offers for Rapha, reports the news channel.
The business has been valued at £150m.
Rapha is partly owned by founder Simon Mottram and investment firm Active Private Equity.
"Road cycling is now estimated to be a $47bn-a-year global market, making it the largest sports category in the world," claims Sky News.
Rapha’s revenues in the year to January were £63m, up 30 percent on the previous 12 months, and sales are bouyant again this year.
The company was founded in 2004 and employs 350 people.
“The sale of Rapha will allow shareholders to cash in on fast-growing interest in cycling,” said Retail Week.