Whyte Bikes has announced it has been bought from Cairngorm Capital by Causeway Capital, an Irish private equity firm.
The deal sees 100 per cent ownership of Whyte Bikes transferred to Causeway Capital, with the brand saying the “move is a major step forwards for the future and international growth of
Whyte”.
Whyte’s existing management team will remain in place, with Nikki Hawyes continuing to lead the company as CEO.
Whyte and Causeway Capital believe the partnership will strengthen the company’s ability to drive ongoing innovation, service Whyte's dealer base and help it collaborate with key suppliers and partners. Further, with Causeway’s support, Whyte plans to ramp up efforts to extend its reach beyond the brand’s current strong foothold in the UK, with plans to expand further in continental Europe and worldwide.
Hawyes said: “This new partnership is an exciting step forward, building on our 25-year history of producing high-quality bikes. We will enhance our product offerings, expand our global footprint, and invest in our brand. This will allow us to create even better experiences for our partners and riders worldwide. I want to thank the team at Cairngorm Capital – their partnership and support have been invaluable in driving our transformation and bringing us to where we are today.”
Matt Scaife, partner at Causeway Capital, said: “Whyte is a category-leading British brand built on design, engineering and innovation. Wellness and outdoor recreation show strong long-term growth. The performance mountain bike market is accelerating, driven by technology innovation and increasing participation amongst younger riders. We are delighted to use the first investment from Causeway Capital Partners II LP to back Nikki and the Whyte team.”
