Deals Review – May 2016
Thursday 19th May 2016
In partnership with the Business Desk, several of our experts will comment on significant deals every month. For May our head of corporate, James Fawcett, comments on LDC’s management buyout of cycling clothing and accessories distributor Zyro.
After its very busy 2015, it is great to see LDC making another investment in a strong local business in early 2016, with the management buyout of Zyro. The deal was part of a complex transaction that also saw the acquisition of St Albans-based cycling distributor Fisher Outdoor Leisure, resulting in a new senior management team and board comprising Zyro founders Simon and Julie Ellison, Zyro director Matthew Barker, former Fisher CEO James Browning and LDC’s John Garner and Ben Snow.
It was also good to see a number of Yorkshire advisers working on a transaction.
Cycling is an increasingly competitive sector, which has seen tremendous growth in recent years, catalysed by British success at the London Olympics, Tour de France and government investment in cycling initiatives.
The consolidation will help to further develop distribution capabilities across the business and enable additional investment in Altura, Zyro’s proprietary clothing and accessories brand.
With a strong management team and LDC’s backing, Zyro can hopefully continue to expand and be successful in a thriving sector.
On a related note, cycling will very much be on the agenda when over 100 cyclists participate in the Wharfedale Ton on Friday June 10; a 100-mile networking event and charity cycle ride from Ilkley to York and back, raising funds for the Marie Curie Bradford Hospice and sponsored by Gordons, RSM and Lloyds Bank. Good luck to all taking part!