The management team of Brooks paid the liquidators of Sturmey Archer Ltd, the Brooks parent company, £1 million.
Brooks, based at Smethwick, Birmingham had always been a separate manufacturing centre from its parent company.
The acquisition was supported by a UK bike trade individual putting his own funds in.
He told BikeBiz this morning:
"I want people to focus on Brooks, not my involvement. I’m not important in all this. Brooks can now move forward."
85 percent of Brook’s production is exported, with distribution in over 180 countries worldwide.
The new Brooks MD, Gordon Nixon, says the Brooks re-jig has been "worse than moving house" but he’s delighted to be back at work:
"We were deeply shocked when our parent company went into liquidation through no fault of our own. Brooks was founded in Birmingham over 130 years ago and we have always been immensely proud of our heritage. We are now thankfully free to continue to build on our reputation as the finest bicycle saddle maker in the world. We are extremely grateful for all the support we have received, especially from our customers who have stood by us and who have given us orders in excess of a month’s production."
Nixon was previously the factory manager at Brooks and was also the two-day a week personnel manager for Sturmey Archer.
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