Dublin-based Causeway Capital has agreed a deal to buy UK bikes brand Whyte Bikes from Cairngorm Capital.
Whyte has £15m in turnover with customers throughout the UK and Europe.
The companies said today's deal will strengthen Whyte's ability to drive ongoing innovation, service its dealer base and collaborate with key suppliers and partners.
They also said that with Causeway's support, Whyte will ramp up efforts to extend its reach much beyond the brand's current strong foothold in the UK with plans to expand further in continental Europe and worldwide.
Whyte CEO Nikki Hawyes said this new partnership is an exciting step forward, building on its 25-year history of producing high-quality bikes.
"We will enhance our product offerings, expand our global footprint, and invest in our brand. This will allow us to create even better experiences for our partners and riders worldwide," she added.
Matt Scaife, Partner at Causeway Capital, said that Whyte is a category-leading British brand built on design, engineering and innovation.
"Wellness and outdoor recreation show strong long-term growth. The performance mountain bike market is accelerating, driven by technology innovation and increasing participation amongst younger riders. We are delighted to use the first investment from Causeway Capital Partners II LP to back Nikki and the Whyte team," he added.
