New money enters the UK mountain bike industry, with Connection Capital deal.
Investors are showing greater interest in mountain biking at a time when additional capital is required to fund future growth.
With inventories low and demand showing no sign of tapering, mountain biking is at record levels of popularity and new participation. And that has attracted ThinCats to the industry as a debt funding partner to Connection Capital.
The latest investment play for Connection Capital is its acquisition of Silverfish, the UK mountain bike, suspension and component distributor.
With a history that traces back to 1999, Silverfish started with a selection of Canadian mountain bike brands. Its growth was accelerated by integrating several premium mountain bike brands, most notably Yeti bikes and Fox suspension.
Helping Silverfish go bigger
Silverfish has remained committed to its core business as a distributor of discerning mountain bike brands and products. Michelin tyres. Peaty’s products. Ride Concept shoes. The product portfolio is targeted as an astute rider.
Silverfish is positioned to continue its growth trajectory with access to new capital. Founder, Darren Mabbott, is understandably thrilled with the increase in potential scale. “We are proud of what Silverfish has become, this investment and our partnerships with Connection and ThinCats means we are well placed to accelerate growth through continuing to add to our range of premium brands, products and territories.”
For Connection Capital, the deal makes sense, giving it access to the revenue potential in mountain biking via an established entity with real legacy. Investment director, Michael Coupland, explains.
“With its’ unique offering and deep-rooted history in the mountain bike market, it is in an excellent position to continue attracting new premium brands to the platform.”