Puma saddles-up £2.35m investment in British cycling brand, Le Col
A fund managed by Puma Investments has invested £2.35 million into the fast-growing British cycling brand Le Col. Founded in 2011 by ex-professional cyclist Yanto Barker, Le Col has its DNA in the pro peloton, and brings high-performance kit to consumers with a quality formerly reserved for professionals.
The company’s partnerships with Eurosport, Strava and Sigma Sports have created thousands of new fans – including Sir Bradley Wiggins. This year, he worked with Le Col to create his own range with the brand, Le Col by Wiggins, and also moved his Team Wiggins kit from Rapha to Le Col.
Partnering for growth
Tommy O’Sullivan, Managing Director at Puma Private Equity, the private equity division of Puma Investments, led the investment, which has an option to increase to £3.5 million. Speaking on the deal, he said:
“Guided by Yanto’s performance insight, design expertise and drive for perfection, Le Col is becoming the go-to brand for cyclists looking for the best kit. Our investment will support the team to leverage the explosive growth it has achieved over the last 12 months, ensuring Le Col continues on its exciting journey.”
Le Col’s growth has been exponential this year. Having raised £1 million from crowdfunding in 2017, its overall revenues are set to treble this year, while eCommerce sales have increased sevenfold.
Le Col’s CEO, Yanto Barker, said of the investment:
“We are delighted to welcome Puma on board; their support will be key in facilitating the next phase of Le Col’s growth. The gains we’ve made in 2018 have been exceptional and this investment will be instrumental in taking our market-leading product to a global cycling audience.”
Puma Private Equity
Puma Private Equity provides growth capital to UK small and medium-sized businesses. It delivers investments between £2-10 million into all sectors, partnering with management teams to accelerate growth and help businesses achieve their potential.
Puma Private Equity advises Puma Investments on discretionary funding to SMEs. Puma Private Equity Limited (“Puma Private Equity”) is an appointed representative of Puma Investment Management Limited (“Puma Investments”) which is authorised and regulated by the Financial Conduct Authority. For more information on Puma Private Equity, visit www.pumaprivateequity.co.uk