Livingbridge invests in Superbike Factory

A spokesperson for Livingbridge declined to comment on the valuation of the deal, though they confirmed the GP has invested more than £10m in the business.

Capital for the transaction was drawn from the GP's Enterprise 2 fund, which held a £220m final close in September 2015 to invest in SMEs. The fund typically writes equity cheques of up to £10m for companies with enterprise values of £5-100m.

Following the deal, Superbike Factory will open a new showroom in the south of England, invest in marketing activity and expand its range of services.

At the time of publication, unquote" was awaiting confirmation of whether Livingbridge has acquired a minority or majority stake via the deal.

Company
Founded in 2010, Superbike Factory sells and provides financing for secondhand motorcycles. In addition to its online platform, the company also operates from its showroom and headquarters in Macclesfield, Cheshire. It has a headcount of 89 and has tripled its revenues over the last two years, according to a statement issued by the investor.

People
Livingbridge – Nick Holder (investment director).
Superbike Factory – Scott Behrens (founder, managing director); James Watson (founder, director).

Advisers
Equity – Deloitte, Andy Westbrook, Olly Tebbutt, Tom Cooke (corporate finance); DWF, Paul Rimmer, Alasdair Outhwaite, Will Munday (legal); Javelin, Richard Wolff, Nina Osborn (commercial due diligence); BDO, Chris Heatlie, Tom Smith (financial due diligence).
Company – KBS, Stuart Lees, Dave Gardner, (corporate finance); TLT, Stephen Devlin (legal).

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