Springboard is delighted to announce that it has advised on an exciting strategic partnership between Warwickshire based Hiplok and uvex group of Germany. The partnership combines uvex’s history of class-leading protective gear with Hiplok’s innovation in the cycle security market.
Hiplok was founded in 2011 when co-founders and product designers Ben Smith and John Abrahams launched the world’s first wearable bike lock. The pair have continued to develop a range of award-winning products each year, expanding the brand’s security and storage line up and contributing to strong year on year sales growth. Under the new partnership, the co-founders will continue at the helm as the brand embarks on the next phase of its ambitious product development and international growth plans.
uvex group, to which uvex sports group belongs and which remains privately owned by the Winter and Grau family, has a long history of protecting people with its class-leading sports and industry equipment. Hiplok will join the uvex sports group portfolio of brands, alongside uvex and ALPINA, bringing together expertise in protective gear and security.
Ben Smith and John Abrahams commented, “Our partnership with UVEX Sports Group, a company whose people share our business values, commitment to quality and vision for innovation, provides a platform for delivering the next generation of Hiplok products to more cyclists and outdoor enthusiasts around the world”.
The shareholders of Hiplok were advised by Springboard Partner Simon Ward and Manager David Lee. Simon commented “we are delighted to have been able to assist Ben and John in securing uvex as a strategic partner. Hiplok is a fantastic and truly disruptive brand which has built an enviable footprint. This partnership provides a platform to take the brand truly global”.
Roger Best – Chairman, Hiplok
Springboard played a crucial role in the sale of 75% of our business plus an option for the balance. The combination of deal advice, patient negotiation and empathy with the founders were all excellent. They were a pleasure to work with.