Press Release

Springboard Corporate Finance is delighted to announce that it has advised Livingbridge and the management shareholders on the sale of Fisher Outdoor Leisure to Zyro. Fisher Outdoor and Zyro are two of the UK’s leading cycle parts, accessories and clothing (PAC) distributors and the deal creates a combined group with sales of £70m. The deal has been funded in part by LDC who have invested in the enlarged group alongside debt facilities from Lloyds Bank.

Fisher, which is based in St Albans, was established over 70 years ago and specialises in the distribution of cycle componentry, supplying retailers such as CRC, Wiggle and Halfords as well as a broad range of independent bike retailers. Zyro, which was founded over 20 years ago by husband and wife team Simon and Julie Ellison, has grown to become a leading specialist distributor of cycling accessories and clothing brands.

The recent Tour de France victories by British riders Bradley Wiggins and Chris Froome, as well as the success of the GB cycling team at the Beijing and London Olympics has resulted in booming sales for businesses in the cycling industry. According to British Cycling, the sport’s governing body, more than two million people across the UK now cycle at least once a week.

Simon Ward who led the deal for Springboard said “We are pleased to have delivered a successful outcome for Livingbridge and James Browning and his team. The creation of Zyro-Fisher is an exciting development in the cycling market. Further consolidation is inevitable as the demands of consumers and brands become ever more sophisticated.”

James Browning, Chairman of Zyro-Fisher commented: “Our industry is clearly entering a consolidation phase. I am delighted at the combination of these two strong and complementary companies which creates a scale player able to offer future-proof services and solutions to its partners.”