Sigma Sports, a leading omni-channel retailer of cycling equipment, has secured a new minority investment in the business. This has been provided by Primary Capital Partners (Primary) with a balance of funding also coming from debt facilities provided by HSBC.
As a leading retailer in the UK and beyond, Sigma Sports was founded in 1992 by Ian Whittingham and Jason Turner. Whittingham remains Chief Executive of the company.
‘The business has grown rapidly in recent years and is looking forward to expanding its online and physical retail presence.’
Ian Whittingham, CEO of Sigma Sports, said “We are delighted to have the backing of Primary to work alongside us as we begin the next part of our journey. It is an exciting time as we continue to deliver year-on-year growth, fuelled by our passion for customer experience alongside working with the best brands in the industry.”
Graham Heddle, Partner at Primary Capital Partner said “We are excited to be backing another leading UK business in an exciting and high-growth market, with an exceptional management team.”
‘Primary is a leading provider of private equity finance for UK-based growth companies valued between £20 million and £100 million. Sigma Sports continues Primary’s track record of investing in both high-quality, differentiated niche-leaders in specialist retailing and in businesses with strong digital business models. Primary’s deal team was led by Graham Heddle and supported by David Richard.’
Alantra acted as lead adviser to management on the transaction. The Alantra team was led by Andy Currie who was supported by Robert Young, Oliver Lawson and Guy Taylor. PwC provided commercial due diligence and EY financial due diligence in connection with the deal. Dentons acted as the legal adviser to Sigma Sports management and Cooley acted as the legal adviser to Primary.
