Accountancy firm advises Californian cycling brand on string of UK acquisitions

A Midlands accountancy firm has played a key role in a global cycling brand’s expansion, supporting its acquisition of four UK-based retail businesses.

Prime Accountants Group, which has offices in Solihull, Birmingham and Coventry, advised Specialized Bicycles on its purchase of three independent UK cycling stores and one large UK independent cycling chain.

Specialized was founded in California, USA, in 1974 and has since grown into a global brand.

It boasts many professional mountain bike riders among its sponsorship roster, including the downhill world champion Loïc Bruni.

Specialized used Prime for due diligence and tax structuring around the acquisitions throughout 2022, working with director Jamie Skelding.

Skelding said: “It was a pleasure to assist Simon and Specialized with these transactions, providing a personalised service which delivered results.

“We pride ourselves on providing a fantastic service with honesty and integrity, which enables us to work effortlessly with companies of Specialized’s standing.”