Boutique cycle brand Fred's Bicycles is looking for buyer to "give it the time and attention it deserves", according to owners Tom Davenport and Jonny Coppel.
Founded in January 2012, the pair are looking to sell outright, and are seeking an individual or group with the right ambition and experience to take on the brand and deliver it’s potential.
Jonny recently qualified as a doctor and Tom has been appointed managing director of TalentPool, a financial recruitment business.
Tom Davenport said: “The fundamentals are in place after two years of product development and testing, supply chain development and the establishment of an efficient and effective distribution network. The brand is widely known and recognised both within and beyond the bicycle industry, following extensive press coverage from The Observer, The Week, Tatler, Cycling Active and a number of smaller and local publications. However, there is considerable scope for expansion and refinement of the business.”
The company is to be sold at stock value plus a premium to recognise the value associated with the brand, the potential represented by the business model, and the complexities and costs associated with establishing a business of this nature.
Fred’s offers classic, single speed, premium quality bicycles to individuals who want a bicycle which can handle everything from commuting to leisure cycling.
The business emerged from frustration felt by the founders at the scarcity of traditional and good quality bicycles at reasonable prices in the UK. The concept was truly born when the founders visited Uganda in 2011. Here, they encountered the simple but elegant bicycles ubiquitous to rural East Africa and based upon a century old British design; on return, they set about providing bicycles for the UK market based on the principles of simplicity, sturdiness and elegance.
Interested parties are to contact Tom Davenport directly by email at email@example.com