Shoosmiths advises BGF on investment in British bike manufacturer Brompton Bicycle

May, 2023 - Milton Keynes, England

Law firm Shoosmiths has advised BGF (Business Growth Fund) on its investment into British bike manufacturer Brompton Bicycle. BGF led the £19 million investment, alongside existing shareholders, to supercharge innovation and fire up international growth.

Brompton is the largest volume bicycle manufacturer in Britain, producing approximately 100,000 bicycles each year and exporting to 46 countries.

BGF, one of the largest investors backing entrepreneurs and innovator across the UK and Ireland, will now take a minority stake in the independent business. 

The deal will enable Brompton to invest in new technologies and robotic manufacturing capabilities to meet ever-growing demand for its revolutionary bike range.

The Shoosmiths team advising on the deal included partner, Alastair Peet and principal associate, Charlotte Cannell, with support from senior associate, Alice Sedgley, associate, Alex Davidson and principal associate, Nick Little

Alastair Peet, partner and national head of Shoosmiths’ venture capital practice, said: “It’s been a pleasure to advise our long-standing client, BGF, on their latest growth capital investment in Brompton Bicycle, a business focused on climate impact. It is a crucial time for investment in businesses like Brompton who, through product innovation and a passionate team, are working towards a better future for mobility. This is a great addition to BGF’s portfolio and an important step in their commitment to sustainable investment.” 

Daina Spedding, investor at BGF, said: “We are incredibly excited to be backing an iconic British brand that is rich in heritage and engineering prowess, with an outstanding track record of profitable, global growth.

“From the outset, there has been a clear synergy between Brompton and BGF, with shared long-term goals and a focus on sustainable growth that is good for both people and planet.

“We look forward to supporting the business as it continues to expand into new markets and invest in new technologies and manufacturing capabilities to meet ever-growing demand for its revolutionary cycling range.”

According to Experian Market IQ annual league table reporting on 2022 activity, Shoosmiths is the most active law firm advising on corporate transactions across the UK (upwards of 400 transactions each year)). Furthermore, Shoosmiths holds its first place ranking in the UK and Ireland, having advised on more Venture Capital deals (VC) than any other law firm and is the second most active firm advising across Europe (Pitchbook).