Cycle firm gears up for growth after takeover by JD Sports Fashion

Global retailer JD Sports Fashion has acquired a majority stake in the UK’s leading premium bicycle retailer, Wheelbase Lakeland, for an undisclosed sum.

Founded in 1993, Kendal-based Wheelbase has 45 staff and has grown to become one of the UK’s leading retailers of premium bicycles with three stores across the North of England, including the UK’s largest cycle store in Staveley, Cumbria, and others at Ilkley, Yorkshire, and Darlington in the North East of England.

Wheelbase also has a large online presence selling premium bikes to customers all over the UK.

It offers a comprehensive and diverse range of premium bikes including leading brands such as Trek, Cube, Cannondale, Scott, Merida, Pinarello, Whyte, Focus, Nukeproof, Cervelo, BMC, Kona and many more.

The business has a significant presence in the cycling world lending its support to the British Elite road cycling team Wheelbase MGD and supporting junior team Wheelbase CabTech.

For more than a decade, Wheelbase has hosted an MTB demo week which attracts nearly 250 riders every year.

Following the investment by the Bury-based JD Group, Wheelbase is gearing up for further growth by taking advantage of emerging opportunities and a strong outlook for the cycling industry.

JD is a global multichannel retailer of sports, fashion and outdoor brands with a total of more than 3,300 stores across 30 countries selling leading brands such as Nike, Adidas, Puma and The North Face. It has a significant presence in the outdoor sector through specialist retailers Go Outdoors, Blacks, Millets, Tiso, Fishing Republic and Naylors Equestrian.

As part of the acquisition, Wheelbase’s full management team and brand will be retained.

Chris Herd, Wheelbase Lakeland managing director, said: “We are extremely pleased to partner with the JD Group. It provides the perfect platform for the Wheelbase brand to develop and strengthen our position within the cycling sector, which is full of growth and opportunity.”

Toby Dalton, commercial director of Wheelbase, said: “The JD Group will bring world class operational support to Wheelbase. We look forward to a new era of development and can’t wait to get the wheels in motion.”

Lee Bagnall, CEO of the outdoor division within the JD Group, said “We are delighted to have completed the acquisition of Wheelbase. We have been impressed by the capabilities of the management team and we look forward to working with them to enhance the cycling offer within the JD Group.”

Wheelbase was advised by Cavu Corporate Finance’s managing director, Shawn Bone, and assistant director, Sahil Nayyar, who led the deal on behalf of the shareholders.

Law firm for businesses, Muckle, advised Wheelbase on all corporate aspects of the deal, and negotiations were led by corporate lawyers and partners Philip Clare and Matthew Walsh.

The JD Group was advised by Napthens with the team led by corporate partner Rob Dobson.

Shawn Bone said: “We are delighted to have been part of the Wheelbase story and to have delivered an excellent result for the shareholders, JD Group and the Wheelbase employees. It has been a real pleasure to work with the Wheelbase team and we wish them the very best for the future.”

Matthew Walsh, partner in the corporate team at Muckle, said: “We are proud to have supported Wheelbase on this deal, which represents an important milestone in their successful business journey.

“I’d like to congratulate the team at Wheelbase for their success so far, and with the JD Group’s support, I am sure that they are well on the road to greater success. As a leading law firm for businesses, it is fantastic to see an already successful business going from strength to strength.”

Rob Dobson, at Napthens, said “We are delighted to have been able to advise the JD Group on its latest acquisition and continued growth. Wheelbase is a high profile business in the cycling world and we wish Wheelbase and the JD Group every success for the future.”

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