Ideal Taiwan and LRM Invest In Ridley Bikes
PAAL-BERINGEN, Belgium – Ideal Bicycle Corp. (Taiwan’s number three maker after Giant and Merida) and Belgium LRM took a stake in Ridley Bikes as part of the recapitalization of the company. “We are excited to be partnering with strong financial and supply chain partners LRM and Ideal Bike,” says Jochim Aerts, CEO of Ridley in a press release.
“Several potential partners approached us. In the end, we chose organizations that are able to provide operational and strategic support. LRM and Ideal will help us continue to grow and develop Ridley as an international player in the bicycle industry,” explains Jochim Aerts.
Continued and sustainable growth
Ideal’s investment in Ridley will fuel product development and technology, streamline logistics, and explore regional growth opportunities. “This partnership will allow the companies to work together for continued, sustainable growth within our competitive industry and marketplace.” says Ideal’s President Andy Lee. Besides Ideal’s factories in Taiwan, China and Poland the company runs a worldwide operation centre in Taiwan.
“Each company in our portfolio can count on our financial expertise, but as investment company we offer more,” explains Stijn Bijnens, General Manager at LRM. “Our investment managers provide strategic input and introduce companies to an extensive network of industry experts and co-investors. We supply the necessary tools to enable businesses to grow faster and to create added value for all stakeholders.”
LRM has chosen Ridley because it is confident about the company’s continued growth: “Ridley is a highly innovative company, already operating worldwide, but with an undiminished international ambition. Moreover, it is a remarkably strong brand, with a sound base in Belgium.”
The Ridley brand has a strong base in professional road racing. Ridley is one of the few brands in the Protour from the start in 2005. The company Race Productions was founded by Jochim Aerts in 1990, and started out making and painting custom frames for local brands. Later on, race bikes with the brand name ‘Ridley’ were introduced. Ridley quickly became market leader in Belgium in this product category.