BikeBiz Bicycle and cycling retail news
Sigma Sports has received new minority investment provided by Primary Capital Partners, with the balance of funding coming from debt facilities provided by HSBC.
Primary is a provider of private equity finance for UK-based growth companies valued between £20 million and £100 million. Its deal team was led by Graham Heddle and supported by David Richard.
Alantra acted as lead adviser to management on the transaction. The Alantra team was led by Andy Currie who was supported by Robert Young, Oliver Lawson and Guy Taylor. PwC provided commercial due diligence and EY financial due diligence in connection with the deal. Dentons acted as the legal adviser to Sigma Sports management and Cooley acted as the legal adviser to Primary.
“We are delighted to have the backing of Primary to work alongside us as we begin the next part of our journey,” said Ian Whittingham, CEO of Sigma Sports. “It is an exciting time as we continue to deliver year-on-year growth, fuelled by our passion for customer experience alongside working with the best brands in the industry.”
Graham Heddle, partner at Primary Capital Partners LLP, added: “We are excited to be backing another leading UK business in an exciting and high-growth market, with an exceptional management team.”
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