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Management Buyout for Brooks

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NOTTINGHAM, UK – (9 november) – Brooks saddles, a Sturmey-Archer daughter company in Smethwick (Birmingham) has found a future in a management buyout by its former and present management. They acquired the works as a going concern and the rights for GBP 1 million (US$1.43 mn, EUR1.66 mn). These funds were raised by 2 Brook […]

NOTTINGHAM, UK – (9 november) – Brooks saddles, a Sturmey-Archer daughter company in Smethwick (Birmingham) has found a future in a management buyout by its former and present management. They acquired the works as a going concern and the rights for GBP 1 million (US$1.43 mn, EUR1.66 mn). These funds were raised by 2 Brook staff members and 6 people from the British bicycle industry. The Brooks staff had been laid of for 5 weeks, but most of them had not yet found a new job, and in fact were happy to be able to return to their old job. Brooks has restarted in full swing on Monday, nov. 6, and has booked that day more than a month’s production. The saddles will be distributed along the existing channels, like Amsterdam-based Sturmey-Archer Europe for Benelux and Germany.

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