Business

Partnerships, acquisitions and investment news throughout the cycling industry

Kid’s bike subscription service Bike Club gears up for expansion with £16.75 million investment

Kid’s bike subscription service Bike Club is gearing up for national and European expansion after closing £16.75 million in new investment. The Bike Club, which is chaired by Mike Balfour OBE, founder of Fitness First, has now received this cash injection as part of a Series B funding round. Leading …

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Cadence Performance taking control of Giant St Paul’s

Cadence Performance has announced it is taking control of Giant St Paul’s, based in the heart of London. Cadence said it looks forward to bringing the St Paul’s team into the Cadence family of four existing stores – Crystal Palace, Radlett, Twickenham and Shoreham-by-Sea. “Our relationship with the team at …

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133 Merida bikes stolen from container at Fleet Services

Over 100 Merida bikes have been stolen from a container that was on its way to the company’s logistics facility in Felixstowe. The theft took place on Thursday 12th May at Fleet Services on the M3, a secure lorry park equipped with CCTV and ANPR. The 40’ container, retrieved from …

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Giant Group reports first quarter revenue increase of 8%

The Giant Group has reported revenues in the first quarter of NT$22.26 billion ($746 million), Bicycle Retailer & Industry News (BRAIN) has reported, an increase of 8% from the same quarter last year. Rising material costs, labour and logistics squeezed the company’s gross margin and operating profit, said the report, and …

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Zwift ‘pauses’ smart bike launch plans, announces layoffs

Indoor training platform Zwift has said it has decided to ‘scale back’ its hardware offering, pausing plans to launch a smart bike. As a result, the company said it has ‘implemented changes’ to the organisation of the business, but has not confirmed how many people will be affected. However, according to …

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Orbea shows continued growth, adding 170 new jobs in 2021

Orbea continues to show growth as the Spanish bike brand added 170 new roles last year. On 7th May, Orbea held its Annual Assembly, where it published its latest growth results, revealing that it is now nearing 1,000 employees across the company, 90% of which are based in Europe.   Sales …

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BMX retailer Custom Riders forced to shut up shop after almost 40 years in business

BMX retailer Custom Riders has been forced to close after almost 40 years in business.  The Chichester-based store and online BMX specialists, run by Mason Smith, first opened its doors 1984, but the owners announced they were shutting up shop owing to the increased pressure on the market.  In a …

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Insync Bikes named in top 10 fastest growing Indian-owned companies in UK

Manchester-headquartered Insync Bikes has been named one of the fastest-growing Indian-owned companies in the UK after seeing growth of 43% in the last year. Insync Bikes is owned by India’s Hero Cycles and the company has just accepted a Tracker Award in London after appearing in Grant Thornton’s annual India …

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Park Tool issues Stop Use and Inspect Notice for CCP-22, CCP-44 and CWP-7 crank pullers

Bicycle tool manufacturer Park Tool has issued a Stop Use and Inspect Notice for its CCP-22, CCP-44 and CWP-7 crank pullers, due to an out-of-spec nut that is shared between the three tools. This out-of-spec threading may cause damage to bicycle cranks during removal, said the company. Some, but not …

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Lyon Equipment completes transition to employee ownership trust status

Distributor Lyon Equipment has completed its transition to employee ownership trust status. Jonathan Capper will continue in his current role as managing director, supported by Paul Cornthwaite as commercial director, Rick Cockayne as financial director and Martin Bergerud as Petzl agency director. Ben Lyon will retire with immediate effect along …

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