Merlin Cycles looks to cast a spell in exports

A LANCASHIRE cycle manufacturer and retailers is riding into international markets after sealing a £400,000 funding deal.

Merlin Cycles of Chorley has moved its banking to HSBC and is gearing up for further export sales with the new trade finance facility.

Founded in 1993, Merlin Cycles is established as a leading online bike shop and mail order specialist. It already sells into mainland Europe and is benefiting from greater public interest in the sport following Bradley Wiggins’ Tour de France victory and the London 2012  Olympics.  

Managing director John Moss said: “2012 has been a successful  year  for us, with the recent events such as Olympic Games and Bradley  Wiggins’ triumph in the Tour De France shining a light on cycling as a  sport and hobby.

“We want to ensure that we built on our success this year, starting  2013  with a banking partner that can best support our international  operations  and  future growth plans.”

The funding was led by Will Boarland, an international commercial manger at HSBC.

Clair McMeeking, area commercial manager for Lancashire and Cumbria at HSBC said:  “Merlin  Cycles  is  a  fantastic  example  of  a local firm that is thriving in a challenging economy thanks to its tenacity and innovative business strategy.”