Alantra advises Sigma Sports on the sale of a minority stake to Primary Capital

SECTORConsumer Goods & Retail

ServiceM&A; Debt Advisory

Feb 2021
Sell-side advisory

Alantra, the independent global mid-market investment bank, has advised the shareholders and management of Sigma Sports, the UK’s leading premium omni-channel retailer of cycling equipment, on the sale of a minority stake in the business to Primary Capital (“Primary”), with debt funding provided by HSBC.

Founded in 1992 by Ian Whittingham and Jason Turner, Sigma Sports has established an unrivalled position in the UK cycling industry due to its portfolio of premium brands and the exceptional service provided to customers. Sigma Sports not only offers a wide range of high-quality products, it has also created a genuine community for cycling enthusiasts and professional cyclists.

In early 2020 the business launched a refreshed website, ahead of a surge in demand during national lockdown as Covid-19 helped introduce new customers to the sport. Despite the increased demand, Sigma Sports has been able to successfully maintain the outstanding levels of service to customers, supported by a first-class and passionate management team led by Ian. Primary, which has a strong track record of investing in high-quality, differentiated niche-leaders in specialist retailing and businesses with strong digital business models, will support Sigma Sports’ plans to expand its online and physical retail presence.

Andy Currie, Managing Partner at Alantra, led the deal supported by Robert Young and Oliver Lawson, with debt advisory provided by Guy Taylor.

Andy Currie, Managing Partner, Alantra, said: “Sigma Sports has established itself as a leading player in the cycling industry and is the go-to retailer for premium brands. The company prides itself on the quality of its products, the content it produces and creating a community for customers. The company has recently experienced rapid growth, and with Primary’s support, we look forward to seeing Sigma Sports continue this growth story.”

Ian Whittingham, CEO at Sigma Sports, said: “The team at Alantra are quite simply amazing. From start to finish they were with us every step of the way and helped us achieve the outcome that we had all hoped for. We are delighted to have the backing of Primary to work alongside us in delivering the next phase of growth for the business. It is an exciting time as we continue to deliver year on year growth supported by an exciting range of new product innovations.”

Corry Cavell-Taylor , Chairman at Sigma Sports, said: “Alantra were recommended to me by a financial industry guru with decades of PE experience. Having been through the PE process successfully, he was spot on. Alantra have been immense. Andy Currie and his tremendously talented team are an exceptional partner to work with. Fast paced, massively experienced, highly skilled with a sense of humour. Dedicated to achieving a fair and realistic outcome for all parties. Just brilliant.”

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