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Browne Jacobson helps BGF partner with Midlands based family cycling business

18 March 2014

Browne Jacobson has advised Business Growth Fund on its £2.8m investment in Rutland Cycling - one of the UKs leading independent cycle retailers.

Rutland Cycling sells and hires premium cycling products from its four stores in the Midlands and via its website; and is a preferred retailer for the UKs three best selling cycle brands, Giant, Trek and Specialized. It has been named Independent Cycle Retailer of the Year for three of the last four years and its website consistently ranks among the UKs top 10 online cycling retailers. The business currently turns over approximately £10m each year.

The Business Growth Fund was set up in 2011 to help small and medium sized growing business with a turnover between £5m-£100m with investment growth capital. Operating through a seven office regional network BGF has invested over £250 million worth of growth capital in 48 companies from 17 sectors. Business Growth Fund is backed by five of the UKs main banking groups - Barclays, HSBC, Lloyds, RBS and Standard Chartered.

The Browne Jacobson team was led by corporate finance lawyers Mike Jackson and Gavin Cummings.

Mike Jackson said:

"We were delighted to help BGF with its investment, which marks the start of an exciting partnership with Rutland Cycling and a great platform for managements expansion plans.

We are certainly seeing an upturn in investment deals reaching a successful completion, which is great news for the Midlands."

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