Long-serving managers buy race champ’s business
A LANCASHIRE company founded 30 years ago by a champion motorcross rider, has been sold to its management team.
Burnley-based Vesty Holdings, the company behind the Apico brand which distributes biking parts, clothing and accessories, was founded by Finnish offroad riding ace Yrjö Vesterinen and his wife Diane.
It has now been acquired by long-serving managers Dylan Brown and Anna Lena Eriksson. The vendors were represented by Forbes Solicitors and Haworths Chartered Accountants, which the MBO team was advised by Napthens Solicitors and Dow Schofield Watts.
Apico operates from a 25,000 sq ft warehouse and office in Burnley and has 24 staff. It distributes to retailers a wide range of off-road parts and clothing covering all disciplines, including motocross, trials, supermoto, trail riding, enduro and quad racing.
Mr Vesterinen, a three time World Trials champion, said: “After putting such a large part of my life into Apico, it doesn’t feel like a business, more a living, breathing organism that Diane and I have nurtured from infancy to adulthood.
“We have enjoyed watching it grow and working with all our staff and many people in the off road industry over the past 30 years. I feel we have played an important role in shaping off road motorsport.
“Selling Vesty UK and associated assets was not an easy decision, though one Diane and I have given a lot of thought to for some time. Dylan and Anna have been both our employees and close friends for some time.
“We feel they have what it takes to continue with Apico and the distributed brands way into the future.”
Dylan Brown: “Both Anna and I have been given a fantastic opportunity in continuing to take the company forward and we both look forward to these exciting times ahead. Vesty UK has always traded with the same principles and this will continue to be the key to our growth and success.”
Anna Lena Eriksson: “We feel very privileged and honoured to have been given the opportunity to continue building on the legacy that Yrjö and Diane have created over the years. Generally not much will change in the way the company will operate. A good customer service is key to the business and will always continue to be.”
Pauline Rigby, partner, and Nick Pickup, solicitor at Forbes advised on the deal.
Financial terms were not disclosed.
