London-based investment firm Cairngorm Capital Partners LLP has announced its strategic partnership and investment in bicycle supplier Whyte Bikes Limited. The unspecified cash injection is intended to accelerate the growth of the St. Leonard on Sea, West Sussex-based bicycle and e-bike supplier.
Whyte Bikes was founded in 1999 by Derek and Guy Farrant. The company serves both the U.K. and international markets. To expand Whyte’s brand presence in existing markets and facilitate its entry into new markets, the Londoners will contribute their brand management expertise and international sales experience. In addition, Cairngorm Capital’s investment will be used to further develop Whyte Bikes’ product portfolio, “including expanding its range of industry-leading e-bikes.”
According to co-founder and CEO Guy Farrant, the partnership with Cairngorm Capital gives his company “the resources and expertise to undertake a number of initiatives that will improve the quality of our offering, expand our product range and ultimately benefit our customers and bikers.”
In addition, Whyte Bikes is now supported by a strengthened board of directors led by David Hill. He has joined the bike company, which once came out of the MTB industry, as non-executive chairman. As such, Guy Farrant is expected to focus on identifying trends and driving Whyte’s strategic vision.