Owner Sport 2000 France Takes Over Look Cycle
NEVERS, France – Activa Capital, the private equity firm that, among others also owns the Sport 2000 retail chain in France has taken a majority stake in Look Cycle. Former Look owners, Dominique Bergin and Thierry Fournier, will keep a stake in the French carbon specialist.
In May 2013 Look Cycle issued a statement that it needed extra capital for the execution of an ambitious growth plan. That included a doubling of its annual sales to around € 100 million by widening its existing bicycle product range as well as through acquisitions and by diversifying into other sectors like tennis and/or golf equipment.
In January 2016 Look announced to have taken over Corima; the French specialist in carbon wheels. Corima has 20 employees and realizes a turnover of € 4 million euro in 2015 on which 85% was made by export. In order to accelerate its French and international expansion further Look Cycle is now owned by Activa Capital.
Currently Look Cycle has an annual turnover of € 45 million which is realized with some 400 employees. The company is the world leader in clipless pedal and is a specialist in carbon (frame) technology.
A statement by Look Cycle on the take-over says, “With the arrival of Activa Capital, Look intends to capitalize on its strong position in Europe to accelerate its growth and its international development, in a sector which is enjoying sustainable growth. Look already generates 75% of its turnover outside France. In association with Activa Capital, Look will accelerate its growth and play a key role as a consolidator in this market. The recent take-over of Corima, is an example of the strong opportunities in the cycling market.”
Owner of Sport 2000
Activa Capital is a French independent private equity company managing over € 500 million of funds. The company’s mission is to partner with ambitious mid-sized French companies, valued at € 20 to 200 million.
Activa Capital owns Sport 2000 in France. It’s the country’s nr. 3 sports retailer operating 553 shops in France under four brand names: Sport 2000 for all sports, including mountain sports, S2 for fashionable shoes in a small urban shop format, Espace Montagne as an outdoor specialist and lastly Mondovelo for the world of cycling. The Mondovelo chain operates some 50 shops in France.