Springboard Corporate Finance is delighted to announce that it has advised Livingbridge and the management shareholders on the sale of Fisher Outdoor Leisure to Zyro.
About the deal
Fisher Outdoor and Zyro are two of the UK’s leading cycle parts, accessories and clothing (PAC) distributors and the deal creates a combined group with sales of £70m. The deal has been funded in part by LDC who have invested in the enlarged group alongside debt facilities from Lloyds Bank.
Fisher, which is based in St Albans, was established over 70 years ago and specialises in the distribution of cycle componentry, supplying retailers such as CRC, Wiggle and Halfords as well as a broad range of independent bike retailers. Zyro, which was founded over 20 years ago by husband and wife team Simon and Julie Ellison, has grown to become a leading specialist distributor of cycling accessories and clothing brands.
Simon Ward who led the deal for Springboard said “We are pleased to have delivered a successful outcome for Livingbridge and James Browning and his team. The creation of Zyro-Fisher is an exciting development in the cycling market. Further consolidation is inevitable as the demands of consumers and brands become ever more sophisticated.”
How we made a difference
- Worked with management to outline synergies and strategic rationale for acquisition;
- Tested robustness of funding by acquiror and devised process to minimise process risk;
- Negotiated commercial terms on behalf of the shareholders; and
- Project managed the deal to a successful completion.
Louise Kingston - Livingbridge
Springboard delivered a professional, partner led service. They showed a detailed understanding of all aspects of the transaction and worked hard to ensure the expectations of Livingbridge and our fellow shareholders were exceeded.