JD Group has acquired a majority stake in bicycle retailer Wheelbase.
Founded in 1993, Wheelbase has 45 employees and three stores across the North of England. It also has a large online presence selling premium bikes to customers all over the UK. It offers a comprehensive and diverse range of premium bikes including brands such as Trek, Cube, Cannondale, Scott, Merida, Pinarello, Whyte, Focus, Nukeproof, Cervelo, BMC, Kona and many more.
The business also lends its support to the British Elite road cycling team Wheelbase Castelli CabTech, and runs many events like the Big Demo Weekend and Tour de Staveley. Following the investment by the JD Group, Wheelbase is gearing up for further growth by taking advantage of emerging opportunities and a strong outlook for the cycling industry.
The JD Group has more than 3,300 stores across 30 countries selling brands such as Nike, Adidas, Puma and The North Face. It has a significant presence in the outdoor sector through specialist retailers Go Outdoors, Blacks, Millets, Tiso, Fishing Republic and Naylors Equestrian.
As part of the acquisition, Wheelbase’s full management team and brand will be retained. Wheelbase was advised by Cavu Corporate Finance’s managing director Shawn Bone and assistant director Sahil Nayyar who led the deal on behalf of the shareholders.
Muckle LLP advised Wheelbase on all corporate aspects of the deal, and negotiations were led by corporate lawyers and partners Philip Clare and Matthew Walsh. The JD Group was advised by Napthens LLP with the team led by corporate partner Rob Dobson.
Chris Herd, managing director of Wheelbase Lakeland Limited, said: “We are extremely pleased to partner with the JD Group. It provides the perfect platform for the Wheelbase brand to develop and strengthen our position within the cycling sector, which is full of growth and opportunity.”
Toby Dalton, commercial director of Wheelbase Lakeland Limited, said: “The JD Group will bring world-class operational support to Wheelbase. We look forward to a new era of development and can’t wait to get the wheels in motion.”
Lee Bagnall, CEO of the Outdoor division within the JD Group, said: “We are delighted to have completed the acquisition of Wheelbase. We have been impressed by the capabilities of the management team and we look forward to working with them to enhance the cycling offer within the JD Group.”