BikeBiz Bicycle and cycling retail news
Whyte Bikes has partnered with specialist investment firm Cairngorm Capital Partners LLP.
This partnership will allow the British bicycle manufacturer to develop its product portfolio, including broadening its range of e-bikes. It gains brand management expertise and international sales experience via Cairngorm Capital, to develop its brand presence in existing markets and to facilitate new market entry.
Whyte has also appointed David Hill as non-executive chairman, allowing Guy Farrant to focus on trendspotting and driving Whyte’s strategic vision. Hill has experience of working with consumer-facing brands in the leisure, health and wellness sectors, and brings expertise in international expansion.
“On behalf of all at Whyte, I would like to welcome David to our company and Cairngorm Capital as partners – we look forward to working together,” said Farrant, Whyte’s managing director. “This partnership provides Whyte with the resources and expertise to undertake a series of initiatives that will enhance the quality of our offering, extend our product range and ultimately, benefit our customers and riders.”
Cairngorm Capital’s investment was led by Neil McGill and Mutsa Mutembwa. McGill, managing director, said: “Whyte is a superb business with exciting growth prospects and an exceptional management team.
“Our firm believes that the trend towards increased participation in cycling driven by changing lifestyles, environmental considerations and government policy support will endure over the long term. As a leading UK brand with a range of award-winning bikes, Whyte is well placed to benefit. We are delighted to be able to partner with Guy and his team.”
Whyte’s founder Derek Farrant added: “This is a new chapter for Whyte and represents a natural progression for me – Guy is a very capable MD of the business and has been shaping Whyte to his own vision over the last seven years. This is an exciting time for all involved in Whyte’s future and I have every expectation of its success, under the ongoing stewardship of Guy and the management team.”
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