BikeBiz Bicycle and cycling retail news
Sky financial reporter Mark Kleinman has said he has information that shows Wiggle has hired Rothschild, the advisory firm, to oversee a strategic review. Putting two and two together (financial reporters tend to be good at sums) Kleinman believes this hire means Wiggle’s majority shareholder wishes to capitalise on its 2006 investment in the online seller of bikes and running gear.
Wiggle was founded as a bike shop in Portsmouth and found early success by selling bike parts online. The firm has been majority-owned by Isis Equity Partners since 2006. Isis paid for £12m for its shareholding. Kleinman estimates the sale or float could reach £200m.
It’s unlikely there will be a flotation or a sale until next year, said Kleinman, who also revealed bankers have told him Halfords would be a likely bidder in any sale.
