UK national newspaper The Guardian has fuelled the fire of speculation about an initial public offering (IPO) for leading UK online bike retailer Wiggle. A number of reports have started to surface in recent weeks that Wiggle is lining up an offering. And, despite a challenging economy, Wiggle has successfully tapped into the growing cult around cycling and triathlon – as bikes replace sports cars and the golf course in the affections of middle-aged men in particular.
The Guardian report notes that the ‘private equity group behind Wiggle is working out its race plan after hoisting an estimated £200m for-sale sign.’
The Guardian also suggests that Isis Equity Partners may choose to quietly sell to another buyout firm. A further option would be ‘the City equivalent of the Alpe d’Huez by pursuing a stock exchange listing.’
Wiggle’s Chief Executive, Humphrey Cobbold, is quoted as stating that an IPO is a “serious option”.
