Entrepreneur racing ahead with bike manufacturer acquisition

BIKE manufacturer Orange Mountain Bikes has been acquired by Yorkshire entrepreneur Ashley Ball and he’s keeping it in the family.

In a transaction supported by regional dealmakers, Orange Bikes, founded by business partners Lester Noble and Steve Wade, is being brought together with its precision engineering partner, Elland metals manufacturer P. Bairstow.

Mr Ball has been a director of Bairstow since 2000 and is also the nephew of Mr Wade, who founded Orange in  1988.

Halifax-based Orange Bikes specialises in hand built performance bikes and has had world championship wins with riders including Sheffield’s Steve Peat.

Ashley Ball, engineer and managing director of Bairstows and Orange Bikes, said: “The two companies have had an incredibly close relationship for over twenty years and bringing them under common ownership was the next natural step.”

“As one of Orange’s earliest fans it is important to me that the core values of the brand and its products are protected while embarking on a vision to broaden the range of bikes and establish the brand in new markets.”

“The team at Orange Bikes have done a great job in growing the business into the UK’s premier performance bike brand. I firmly believe that with the additional investment we will be making into new product development we can further build on this success.”

“To carry the mantle of Orange bikes is an incredible responsibility but also presents an amazing opportunity.”

Lead advisor to Mr Ball was BHP Corporate Finance with a team led by Don Gray and Kevin Davies.

Don Gray, partner, said: “We are delighted to support Ash on this transaction. Orange’s heritage within the UK is incredibly well established and there is a huge opportunity to take this to new overseas markets. It’s yet another great example of the world class design and engineering capabilities that reside in Yorkshire.”

hlw Keeble Hawson provided legal advice on the acquisition. Paul Trudgill, managing partner said: “I have no doubt that Ash’s enthusiasm for Orange Bikes allied with its leading design and production teams will drive the business to even greater success.”

Debt funding for the transaction was provided by HSBC Bank with a team led by relationship director Chris Alsop. HSBC was advised by Irwin Mitchell.