PAAL-BERINGEN, Belgium (BRAIN) — Ridley co-owner and CEO Jochim Aerts and an investment group have bought out the Kumpen family's share of the Belgium bike brand.
The Kumpen family stepped in as "angel" investors 12 years ago to help the brand grow. Paul Kumpen is the father of Ridley sales director Anthony Kumpen.
“I want to express my thanks for the many years of the Kumpen family’s positive, constructive and very pleasant cooperation," said Aerts. "The support of a business angel such as Paul Kumpen has inspired me to be just a little more daring and given us the secure confidence that we can go further than our colleagues in the industry. It is this unique collaboration and synergy that has ensured that we are where we are today."
Ridley is the largest bike manufacturer in Belgium and grew 25 percent last year to sales of 30 million euros.
Aerts said the company's two main priorities are international growth and research and development
Anthony Kumpen said, "12 years ago – thanks to my father as a business angel – I had the opportunity to take an active role in Ridley’s story. During this period we have covered a very positive track with Ridley. We are now at the top level in the professional pelotons of cycling – both on the road and off in cyclocross. We have managed to achieve good growth each year, with a growth of almost 25 percent last year and are aspiring to grow 20 percent this year."