Brompton Bicycle confirms first equity capital raise for 35 years from BGF

Brompton, maker of the enduring folding bike, has partnered with BGF, one of many largest and most skilled progress capital buyers within the UK and Eire, to additional speed up its progress.

Since 1975, Brompton has been impartial, owned by the founder Andrew Ritchie, the present CEO Will Butler-Adams, their associates, household, and its workers. This partnership with BGF sees it take a minority stake to help Brompton’s ambition to create city freedom for happier lives.

“Over the past twenty years, Brompton has grown organically at circa 20% a 12 months, funded by reinvesting our earnings. For the 12 months ended March 2023, turnover grew 21% to £130m, supported by the launch of the Superlight T Line and Electrical P Line merchandise. We export 80% of our bikes to 46 nations, and in November 2022 made our one-millionth bike, an ideal achievement. However this isn’t sufficient, we have to transfer quicker. The impression of Local weather change is being felt by us all and the best carbon emissions come from our cities the place a lot of the world’s inhabitants now lives,” mentioned Will Butler-Adams, CEO at Brompton.

“Our workforce at Brompton are brimming with concepts to speed up our progress by means of product innovation, storytelling, excellent shops and having enjoyable with our wonderful neighborhood. But when we’re actually going to go for it, we have to strengthen our stability sheet to offer us the arrogance to be extra formidable.”

Daina Spedding, investor at BGF, mentioned: “We’re extremely excited to be backing an iconic British model that’s wealthy in heritage and engineering prowess, with an impressive observe file of worthwhile, world progress. From the outset, there was a transparent synergy between Brompton and BGF, with shared long-term targets and a deal with sustainable progress that’s good for each folks and planet. We look ahead to supporting the enterprise because it continues to develop into new markets and put money into new applied sciences and manufacturing capabilities to satisfy ever-growing demand for its revolutionary biking vary.”

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