LONDON (BRAIN) — The UK investment firm Cairngorm Capital Partners LLP has made a strategic partnership and investment in Whyte Bikes Limited, a British brand founded in 1999.
A Cairngorm representative told BRAIN the company does not release the terms of their investments.
Whyte said it will use the investment to develop its product portfolio, including broadening its range of e-bikes. Cairngorm Capital will also share brand management expertise and international sales experience, it said.
David Hill is joining Whyte as non-executive chairman, allowing brand co-founder Guy Farrant, Whyte's managing director, to focus on trendspotting and strategic vision.
Guy Farrant launched the brand with brother Derek Farrant. The company is headquartered in Hastings, with a research and design facility in Cheltenham. It sells online and through dealers in the UK and other markets, including the U.S.
Cairngorm Capital, with offices in Edinburgh and London, was founded in 2016 and this is its 30th investment and first in the bicycle sector.
Derek Farrant said, "This is a new chapter for Whyte and represents a natural progression for me – Guy is a very capable MD of the business and has been shaping Whyte to his own vision over the last seven years. This is an exciting time for all involved in Whyte's future and I have every expectation of its success, under the ongoing stewardship of Guy and the management team."
Guy Farrant, added, "On behalf of all at Whyte, I would like to welcome David to our company and Cairngorm Capital as partners – we look forward to working together. This partnership provides Whyte with the resources and expertise to undertake a series of initiatives that will enhance the quality of our offering, extend our product range and ultimately, benefit our customers and riders."
