LDC backs Zyro's acquisition of Fisher

The deal also sees Zyro bolt on competitor Fisher Outdoor Leisure, to form Zyro-Fisher, a group with a combined turnover of £70m.

Upon completion of the transaction, the merged business will consolidate its operations, moving all distribution to Zyro's existing Darlington facility. It will also invest in Zyro's clothing, luggage and accessories brand Altura.

The group will appoint Matthew Barker, previously Zyro's finance and IT director, as CEO while former Fisher CEO, James Browning, will be appointed chair. Zyro founders Simon and Julie Ellison will take a seat on the board alongside LDC director John Garner and investment director Ben Snow.

Lloyds provided banking facilities to support the transaction.

The deal marks LDC's fifth transaction of 2016. Earlier in April it acquired a significant minority stake in UK courier company Panther Logistics, as part of a £17m management buyout.

Company
Founded in 1995 and headquartered in Darlington, Zyro is a supplier of cycling products and clothing. Its customers include UK retailers Halfords, Evans and Wiggle.

St Albans-headquartered Fisher was founded in 1934 and specialises in cycling accessories and components.

People
LDC – John Garner (director); Ben Snow (investment director).
Zyro-Fisher – James Browning (chairperson); Matthew Barker (CEO).

Advisers
Equity – Park Place Corporate Finance (corporate finance); PwC (corporate finance); KPMG (financial due diligence); Squire Patton Boggs, Jonathan Jones (legal).
Company (Zyro) – KPMG (financial due diligence); Addleshaw Goddard (legal).
Company (Fisher) – Springboard Corporate Finance (corporate finance); Gowling WLG (legal).
Management – Freeths (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• UK / Ireland
• Consumer
• United Kingdom
• LDC