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."
- 1 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 2 Nick Kyrgios calls former Olympian Dawn Fraser a 'blatant racist' after she tells Wimbledon star to 'go back where their parents came from'
- 3 World learns of app that shows you who unfriended you on Facebook, app promptly crashes
- 4 Chris Moyles reportedly set to make radio comeback with new breakfast show on XFM
- 5 The Greece debt crisis explained in less than 100 words
Florida man sentenced to two-and-a-half years for having sex on the beach in front of a child
Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
Man who was struck and killed by lightning in Brecon Beacons 'was carrying a selfie stick'
Greece debt crisis as it happened: EU chiefs at loggerheads hours before Alexis Tsipras’s last ditch deal proposals
Florida teacher sentenced to 22 years in prison for sexually abusing three pupils
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Sickness and disability benefits could be reduced by £30 a week as part of £12bn welfare cuts
iJobs Money & Business
£40000 - £95000 per annum: Recruitment Genius: This is an exciting opportunity...
competitive: SThree: Are you passionate about sales?Do you have a keen interes...
£17000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...