CASE STUDY & PORTFOLIO

ZyroFisher: Merger drives international success

Private equity helps bring together two cycling brands and supports next stage of the company’s growth journey.

Sector
  • Retail & consumer
  • Support services

ZyroFisher is the leading cycling parts and accessories distributor.

Deal type
  • Management buyout
Exit type
  • Private equity sale
Exit date

18/12/2017

Current
  • Reinvested
Re-investment date

18/12/2017

The Team
LDC Region

ZyroFisher is the leading cycling parts, clothing and accessories distributor. The firm represents over 50 world-class brands whose products are chosen, trusted and tested by Olympic Champions, World Champions and leading athletes across each discipline of the sport.

ZyroFisher also designs and develops Altura, the UK’s best-selling cycling apparel brand.

Successful integration

In April 2016, LDC backed the management buyout of Zyro, with the business also acquiring Fisher Outdoor Leisure to create a combined group – ZyroFisher.

Initially, the management team and LDC worked together to ensure that the two separate companies successfully integrated. Just 18 months after the initial investment, ZyroFisher came to represent the largest portfolio of market-leading brands in the UK and Ireland.

Strengthening strategy

With LDC’s support, ZyroFisher attracted new brands, developed its proprietary apparel brand Altura, expanded its distribution capabilities and strengthened its senior team.

In December 2017, LDC completed the sale of ZyroFisher to Palatine Private Equity in a deal that provided significant additional equity funding to strengthen the management’s ongoing growth strategy. As part of the deal, LDC reinvested alongside Palatine to continue its support of the firm’s expansion.

LDC’s financial, strategic and operational support over the past 18 months has been invaluable in the successful integration of Zyro and Fisher, allowing us to capitalise on the combined strengths of the businesses and invest for long-term growth.”
Matthew Barker
ZyroFisher

Award-winning transformation

ZyroFisher won the Business Transformation Management Team award at the BVCA Yorkshire & North East Awards in April 2018. This was due to its successful implementation of change and drive of sustainable growth.

Next growth stage

In May 2018, ZyroFisher acquired Royal Velo France (RVF) from the Exxem group as part of its international expansion strategy. RVF is a key partner for major brands such as Sidi, Giro, Bell and CamelBak and has established a strong position in the French market.

This deal marked ZyroFisher’s first acquisition and has provided a platform from which the management can accelerate the growth of the combined group in Europe.

Awards

Business Transformation Management Team

ZyroFisher – BVCA Management Team Awards (Yorkshire & North East)