ZyroFisher was originally formed in early 2016, when LDC backed the management buy-out of Zyro and supported the simultaneous acquisition of Fisher Outdoor Leisure. The merger created a business with sales of c.£75m which represents many market-leading global brands across all cycling disciplines.
In late 2017 – following the successful integration of the Zyro and Fisher businesses and the addition of new brands to the portfolio – a secondary management buy-out was led by Palatine Private Equity with debt facilities from private debt provider LGT European Capital and Lloyds Bank. The transaction includes a significant reinvestment from both LDC and the ZyroFisher management team and provides the financial firepower to support the business’s continued expansion strategy.
The business represents an attractive platform for international brand owners who benefit from specialist advice on marketing and strategy in the UK as well as the ability to reach not just national and online retailers such as Wiggle, Halfords and Evans Cycles but also the key network of 2,000+ independent bike dealers. As well as distributing leading brands across the road, mountain bike and commuter sectors, Zyro also owns Altura, a leading clothing, luggage and accessories brand.
The cycling sector has seen strong growth in recent years owing to increased participation following the success of British cyclists at the Olympics and Tour de France as well as increased awareness and investment in road safety.