Ridley Bikes Get New Investors
PAAL, Belgium – The Kumpen family sells its stake in Ridley Bikes to co-owner and CEO Jochim Aerts. Jochim Aerts is assisted by some investors in this take-over. The names of these investors will be announced on a later date. According to the company’s press release, Ridley is the largest bicycle manufacturer in Belgium and achieved 25% growth last year with sales of € 30 million.
The sale of the company’s shares and the arrival of new stakeholders enables the company Race Productions NV, with its main brand Ridley, to achieve its future ambitions. The focus is on two main priorities for the near future: international growth and R & D. “Currently the company already holds several international patents. Investments in research and development result in Ridley’s current technical lead,” says Race Productions NV.
The reason for the Kumpen family to sell its stake in the company is of a strategic nature, says Anthony Kumpen, Commercial Director at Ridley Bikes. “Due to the current ongoing growth other partners could add value considerably to Ridley at a structural level. There are plenty of interested parties, but in consultation with Jochim, we have chosen for a few investors which he brought together.”
Ridley CEO Jochim Aerts thanks the Kumpen family for, “The years of positive, constructive and very pleasant cooperation. The support from “business angel” Paul Kumpen gave me often with difficult decisions a little more dare and assurance to do more compared to our colleagues in the industry. It is this unique collaboration and synergy that has ensured that we are where we are today. Due to rapid changes in the global market Ridley now comes to a point that further internationalization arises. I am pleased that Ridley as a company has the ability to take the necessary steps for further growth and development.”