Equistone Partners Europe to acquire Sportsbikeshop
Equistone Partners Europe (“Equistone”) Fund V is acquiring the British online retailer Sportsbikeshop Ltd (“Sportsbikeshop”). Sportsbikeshop based in Boston, Lincolnshire, is the British market leader in the online sale of motorbike clothing, spares and accessories. Established in 2005, the company is aiming to generate sales of over GBP 15 million in the current business year. Sales are exclusively made to the end customers via their online portal. Geographically, Sportsbikeshop serves Britain, Continental Europe, North America, Australia and New Zealand. The sellers are four private shareholders. The company founder, James Mitchell, is to stay with the business. The parties agreed not to disclose the purchase price.
- Equistone Partners Europe is acquiring Sportsbikeshop Ltd
- Equistone Partners Europe increases its investment portfolio in the motorbike industry and creates new e-commerce activities in Europe
- Sportsbikeshop’s founder to remain with the company as its CEO
With its acquisition of Sportsbikeshop, Equistone is extending its portfolio of equity holdings in the motorbike industry. Sportsbikeshop will give Equistone additional access to the European market and at the same time reinforces its online sales activities. Earlier this year Equistone acquired POLO Motorrad und Sportswear GmbH, marking its first foray into the European motorbike market.
In the last five years, Sportsbikeshop has grown to a company with sales in the millions, posting annual growth of over 50 percent. The Sportsbikeshop range includes 15,000 different products. This includes high quality motorbike gear and helmets as well as spares and maintenance materials. All sale transactions are executed exclusively online and via the central warehouse in Boston, Lincolnshire.
Sportsbikeshop’s founder and managing director James Mitchell will be responsible for the company’s British activities and will remain in his post as managing director. In his role as managing director James Mitchell will also support the Group’s e-commerce activities.
“We are delighted to have added the leading British online dealer Sportsbikeshop as a second key growth driver to our motorbike portfolio,” said Dirk Schekerka, Equistone Partner “An additional point of access to the European motorbike market and reinforcement of the online business were among our declared goals. We are also very pleased that company founder, James Mitchell, will drive forward the business in Britain with his expertise in this area.”
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