Palatine backs Zyrofisher in expansion plan
Palatine Private Equity has invested in ZyroFisher, the leading cycling parts and accessories distributor, alongside mid-market private equity investor LDC as both firms provide the financial firepower to support the business’s continued expansion strategy.
ZyroFisher was originally formed in April 2016, through the management buyout of Zyro and the simultaneous acquisition of Fisher Outdoor Leisure. Based in Darlington, the business supplies major retailers such as Wiggle, Halfords and Evans as well as over 2,000 independents, providing a route to market for dozens of specialist brands with best in class sales, marketing, distribution and customer services support.
Over the past 18 months, the team has successfully integrated the two separate companies and now represents the largest portfolio of market leading brands in the UK and Ireland. It has attracted new brands, developed its proprietary apparel brand Altura, expanded its distribution capabilities and strengthened its senior team. The business now has annual sales in excess of £75m and has built an even stronger platform for future growth.
Matthew Barker, CEO of ZyroFisher, said: “This is an exciting development for the business, our retail customers, our brand partners and our team. Bringing on board additional investment from Palatine now means we can accelerate our expansion plan and have an even stronger platform for future growth.”
Palatine Private Equity’s team was led by Partners Ed Fazakerley and Andy Lees, along with Investment Director Kieran Lawton and Investment Manager James Painter. Both Fazakerley and Lawton will join the board as Non-Executive Directors.