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Management Buyout at UK’s Concept Cycling

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MANCHESTER, UK (July 14) – Concept Cycling Ltd. has been bought by its management in a GBP 12.5 (€ 18 million) deal. Concept is one of the larger bicycle suppliers in the UK. It has two subsidiaries, Acorn Sports & Leisure Ltd. and Wheelbase Ltd. The Concept Group has an annual turnover of GBP 30 […]

MANCHESTER, UK (July 14) – Concept Cycling Ltd. has been bought by its management in a GBP 12.5 (€ 18 million) deal. Concept is one of the larger bicycle suppliers in the UK. It has two subsidiaries, Acorn Sports & Leisure Ltd. and Wheelbase Ltd. The Concept Group has an annual turnover of GBP 30 million (€ 50 million) and it employs 240 people. Concept sells a claimed 400,000 bicycles through 1500 independent dealers in the UK, under its own Concept, Integra, Saxon, Coyote and Viking brands. It operates mainly in the North of England and Wales. It has its own assembly line in Oldham and a wheel factory in Wales. Concept has been bought by its MD Robert Pollard, sales director Mark Winters, Purchase director Peter White and manufacturing director Richard Bovan. Funds have been provided by Lloyd’s TSB Bank and Lloyd’s TSB Commercial Finance. Vendors Steven Walsh and Paul Allen keep a stake in the business.(OB)

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