Bridgepoint rides off with Wiggle
Wiggle, the online cycling retailer, has been acquired by the private equity firm Bridgepoint in a deal worth £180m.
Bridgepoint saw off competition from EQT, the Swedish buyout company, to purchase Wiggle, which serves customers in 88 countries from Japan to New Zealand. Bridgepoint also owns the retailers Fat Face and HobbyCraft, as well as the sandwich chain Pret A Manger.
Wiggle grew its pre-tax profits by 55 per cent to £10.2m for the year to 31 January, on sales of £86.8m.
The deal is a coup for the private equity firm Isis, which acquired its majority shareholding in Wiggle for £12m in 2006. Rothschild ran the sale process.
Vince Gwilliam, a Bridgepoint partner, said: "Wiggle is benefitting from strong structural market drivers such as the shift to online retailing combined with the trend towards fitness and healthy living."
Guide dog mauled while helping owner deliver Christmas cards
Life on Earth may have developed below rather than above ground, reveal scientists
Nelson Mandela’s complex bond with Britain
The poorest pay the price for austerity: Workers face biggest fall in living standards since Victorian era
10 stone five-year-old taken into care
- 1 Gurdwaras-turned-food banks: Sikh temples are catering for rise in Britain’s hungry
- 2 Council bans use of word ‘Commie’ – but ‘fascist’ and ‘Nazi’ are fine
- 3 The man who made Femen: New film outs Victor Svyatski as the mastermind behind the protest group and its breast-baring stunts
- 4 The poorest pay the price for austerity: Workers face biggest fall in living standards since Victorian era
- 5 Mass murder in the Middle East is funded by our friends the Saudis
- < Previous
- Next >
iJobs Money & Business
£55000 - £70000 per annum + Benefits + Bonus: Harrington Starr: Senior Java De...
£25000 - £35000 per annum: Harrington Starr: PHP Developer (Web Developer, MyS...
£55000 - £75000 per annum + 28 Days Holiday: Harrington Starr: Flex Developer ...
£50000 - £90000 per annum + Benefits + Bonus: Harrington Starr: Senior Core Ja...