Business

Partnerships, acquisitions and investment news throughout the cycling industry

Velotech Services to distribute accessory brand CloseTheGap

Velotech Services has acquired the distribution rights to Dutch brand CloseTheGap. After seven years as editor of Fiets, Mathijs Wagenaar founded CloseTheGap in 2015 with the HideMyBell. The brand now offers additional functional and minimalistic accessories and is also a sponsor of World Tour Team Jumbo Visma. Robin Corder, CEO …

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Hotlines adds USWE backpacks to portfolio

Hotlines has added USWE to its portfolio. USWE, pronounced “you-swii”, makes bounce free action backpacks and recently launched two new running vests. “The Pace 2 and 8 are a completely new development for our running vests,” said Karl-Johan Engdahl, USWE founder. “These are lighter, improved size range, more ergonomic, and …

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BikeTrax for Yamaha is now available

BikeTrax for Yamaha is now available at all BikeTrax dealers and in the PowUnity online store. BikeTrax for Yamaha engines can be retrofitted directly by end customers. With the help of the enclosed step-by-step instructions, the GPS tracker installed is ‘invisible’ to thieves from the outside. The BikeTrax theft protection …

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Pure Electric opens new Plymouth showroom and service centre

Pure Electric has opened its new Plymouth showroom next to the Drake Circus Shopping Centre. The new showroom, which creates five new jobs in the local area, is located on the Charles Cross roundabout. Experts will be on-hand to offer advice to visitors interested in adopting electric transport technology, while …

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TSG to sell stake in Nuun to Nestlé Health Science

Private equity firm TSG Consumer Partners is to sell its stake in Nuun Hydration to Nestlé Health Science. “Over the past few years, our partnership with TSG has helped accelerate our mission to enhance the lives of millions of consumers who increasingly seek healthy fitness solutions,” said Kevin Rutherford, CEO of …

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IBDs offering retail finance set to save time and money with new ACT initiative

ACT members will be able to save time and money when offering retail finance with the new Retail Finance Appointed Representative initiative, meaning they get the benefits of offering regulated finance with no Financial Conduct Authority (FCA) involvement. Over the past year, retail finance has played a key role in …

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Fox Factory reports third consecutive quarter of record sales, bolsters leadership team

Fox Factory has reported financial results for the first quarter ending 2nd April, with a sales increase of 52.5% to $281.1 million, compared to $184.4 million in the same period last fiscal year. Gross margin increased 410 basis points to 34.8%, compared to 30.7% in the same period last fiscal …

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Dorel Sports sees Q1 revenue increase by 43.6%

Dorel Sports has delivered its eighth consecutive quarter of revenue growth, with first-quarter revenue increasing to $270.3 million – an increase of $82.1 million or 43.6% from $188.2 million last year. The demand for bicycles continued ‘unabated’, said the company, as people continue to choose cycling for physical activity and …

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Cytech training provider ACA opens new workshop in Bracknell

Cytech training provider Activate Cycle Academy (ACA) has opened a new cycle maintenance training workshop in Bracknell, Berkshire. Based at Activate Learning’s Bracknell and Wokingham College campus, the new workshop is the latest addition to the expanding number of Cytech training workshops across the country. Matt Grant, sales and marketing …

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Gone Biking Mad to distribute Prestacycle in UK and Europe

Gone Biking Mad has been appointed the exclusive distributor of Prestacycle for the UK and Europe. Prestacycle was founded in 2006 in upstate New York, USA, and has a range of workshop quality tools plus a range of pocket carry superlight tools and inflators. “We are very excited to have …

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