In order to ‘accelerate its French and international expansion’,s Activa Capital has taken a majority stake in LOOK Cycle, alongside the French brand’s existing owners, Dominique Bergin and Thierry Fournier. Terms of the deal were not disclosed.
As a pioneer of clipless pedals, Look has amassed 30 years of experience and specialism in the pedals category. And, the company adds that ‘as a leader in the field of carbon technology, Look Cycle also designs and manufactures exceptional bikes.’
With a turnover of €45 million and around 420 staff, Look reportedly assigns more than 10% of its turnover to research and innovation with a portfolio of over 230 patents.
On 2 July, Look will participate in the Tour de France with the Fortuneo-Vital Concept team, riding the Look 795 Light and the French company will equip nine of the top teams of the Tour (Tinkoff, Movistar, Lotto Soudal, Astana, AG2R La Mondiale, Katusha, Furtuneo-Vital Concept, Cofidis, Direct Energie).
Alberto Contador and Peter Sagan will be at the starting line of this year’s TdF with personalised Kéo Blade 2 Look pedals. The Astana cycling team will ride with both Corima wheels and Look pedals.
After the Tour de France, Look will again be present at the Rio Olympics Games with more than 80 bikes in competition. Look is the long-time partner of the French Cycling Federation, as well as those of Canada, Russia and Germany. Look also partners with the Chinese Cycling Federation which has chosen to equip its athletes with Look bikes.
With the arrival of Activa Capital, Look intends to ‘capitalise on its strong position in Europe to accelerate its growth and its international development, in a sector which is enjoying sustainable growth.’ Look already generates a reported 75% of its turnover outside its home market of France.
In association with Activa Capital, Look will aim to accelerate its growth and ‘play a key role as a consolidator in this market’.
Dominique Bergin, President of Look, said “Look has many development projects and we wanted the support of a highly reputable financial partner. We are pleased to welcome Activa Capital with whom we share a common growth vision for our brand.”
Charles Diehl, Partner at Activa Capital, added “we were attracted by this resolutely dynamic and innovative family business and have built a strong relationship over the past 18 months with the management team. We are particularly pleased to be partners in the next phase of Look’s development, and to support this iconic sports brand in accelerating its international growth.”
www.lookcycle.com
www.activacapital.com
