Private equity firm takes stake in cycling specialist

Oakham-based Sigma Sports has sold a minority stake in the business to Primary Capital.

Sigma was founded in 1992 by Ian Whittingham and Jason Turner. It has established an enviable reputation in the UK cycling industry due to its portfolio of premium brands and also has an outlet in London

In early 2020 the business launched a refreshed website, ahead of a surge in demand during national lockdown as Covid-19 helped introduce new customers to the sport. Despite the increased demand, Sigma Sports has been able to keep pace. Primary will support Sigma Sports’ plans to expand its online and physical retail presence.

Andy Currie, managing partner at Alantra, led the deal supported by Robert Young and Oliver Lawson, with debt advisory provided by Guy Taylor.

Andy Currie, managing partner at Alantra, said: “Sigma Sports has established itself as a leading player in the cycling industry and is the go-to retailer for premium brands. The company prides itself on the quality of its products, the content it produces and creating a community for customers. The company has recently experienced rapid growth, and with Primary’s support, we look forward to seeing Sigma Sports continue this growth story.”

The deal was funded by HSBC.