海角视频

Derby bicycle supplier and distributor Moore Large has received an eight-figure funding package from HSBC 海角视频 to support a management buyout.

The deal will see four senior members of management take over the running of the business from the Moore family, with plans to grow the business by 40 per cent in the next four years.

The business has benefitted from growing interest in cycling since the start of the pandemic, and will focus on developing its house brands which include 鈥楨TC鈥� and 鈥楩orme鈥�.

The management team is made up of Andrew Walker, Dale Vanderplank, Adam Biggs and Adam Garner, and the move comes as chairman and managing director Nigel Moore prepares for retirement after more than 40 years in charge.

Mr Moore said: 鈥淎fter over 40 years leading the company, I鈥檓 excited to be retiring and entering a new phase in my life.

鈥淭he last few years at Moore Large have been particularly successful and now feels like the right time for me to hand over the company to the senior management team.鈥�

Commercial director Andrew Walker said: 鈥淭he demand for bikes continues to increase and as our long-term financial partner, the funding from HSBC 海角视频 will greatly help to support the future development of Moore Large as the new board gears up for major growth.

鈥淚鈥檇 also like to extend my thanks to David Nelson at PKF Smith Cooper, who has helped to facilitate the deal between the management and vendor, as well as Debra Martin at Geldards, Mark Rutherford at Gateley Wareing and Ivan Wilcock at Cooper Parry for their involvement.鈥�

Graham Brown, relationship director at HSBC 海角视频, said: 鈥淭he demand for sustainable travel has increased heavily in the last few years, with cycling also offering many health benefits.

鈥淲e鈥檙e proud to be supporting the 海角视频鈥檚 largest family-owned bicycle distributor with this buyout and its growth plans to drive demand for bikes around the country and help people make the switch to cycling.鈥�