mobile-nav icon

Industry insights, commentary and overviews
of the key industry issues

  • Pulse

  • LDC sells cycling parts distributor to Palatine

  • News

     

    LDC sells cycling parts distributor to Palatine

  • Private equity firm LDC has sold ZyroFisher, a cycling parts and accessories distributor, to Palatine Private Equity. 


    As part of the deal, LDC has reinvested alongside Palatine to continue its support of the firm’s expansion.


    ZyroFisher was founded in April 2016 when LDC backed the management buyout of Zyro and supported the simultaneous acquisition of Fisher Outdoor Leisure.


    Over the past 18 months, the team has successfully integrated the two separate companies, developed its proprietary apparel brand Altura and expanded its distribution capabilities.


    The business is based in Darlington and supplies major retailers such as Wiggle, Halfords and Evans as well as over 2,000 independent shops. It has annual sales of more than £75 million.

     

    Palatine will take two seats on ZyroFisher’s board of directors alongside LDC. The additional funding, which includes further debt provided by European Capital, will be used to further grow the business.


    Matthew Barker, CEO of ZyroFisher, said: “Bringing on board additional investment now means we have further financial firepower and can accelerate our expansion plan. LDC’s financial, strategic and operational support over the past 18 months has been invaluable in the successful integration of Zyro and Fisher, allowing us to capitalise on the combined strengths of the businesses and invest for long-term growth. Having such a supportive partner on board during the next phase of our journey alongside Palatine gives us the confidence to scale up our plans.”


    John Garner, Head of LDC in Yorkshire and the North East, added: “We’re excited to be continuing our support for the business and helping the team fulfil its ambitions. Since we backed the business in 2016, ZyroFisher has significantly outperformed its business plan and bringing on board additional investment at this stage enables us to bring forward plans, capitalising on significant growth opportunities. The deal is another example of our appetite to support companies over the long-term with the right funding structure to help them fulfil their potential.”


  • 18/12/2017

  • Author :