KENT-BOUND BIKE FIRM GETS IN GEAR FOR FUTURE GROWTH

The Business Growth Fund (BGF) has led a £19 million investment into Brompton, the UK’s largest bicycle manufacturer which plans to open to a new global headquarters in Kent.

Last year, the company announced that it had chosen Ashford in Kent as it’s new HQ and has now submitted a planning application for a £100 million factory.

BGF will take a minority stake in Brompton, which was founded in 1975 by Andrew Ritchie. He retains ownership alongside current CEO Will Butler-Adams, plus friends, family and the staff.

Daina Spedding, investor at BGF, said: “We are incredibly excited to be backing an iconic British brand that is rich in heritage and engineering prowess, with an outstanding track record of profitable, global growth.

"From the outset, there has been a clear synergy between Brompton and BGF, with shared long-term goals and a focus on sustainable growth that is good for people and planet.

"We look forward to supporting the business as it continues to expand into new markets and invest in new technologies and manufacturing capabilities to meet ever-growing demand for its revolutionary cycling range.”

Alex Tatham rejoins Westcoast as Executive Director

In his previous spell as managing director of Westcoast, Alex helped grow the company into one of the largest privately-owned companies in the UK.

Alex left Westcoast in September to take up the role of global head of clients and marketing at London-based tech reseller NSC Global.

Brompton says the agreement with BGF will help accelerate growth.

CEO Will Butler-Adams explained: “Over the past two decades, Brompton has grown organically at around 20 per cent a year, funded by reinvesting our profits.

"We export 80 per cent of our bikes to 46 countries, and in November 2022 made our one-millionth bike, a great achievement. But this is not enough, we need to move faster.

"Our team at Brompton are brimming with ideas to accelerate our growth through product innovation, storytelling, outstanding stores and having fun with our amazing community.

"But if we are really going to go for it, we need to strengthen our balance sheet to give us the confidence to be more ambitious.”

Alex said: “It is a total privilege to have rejoined Westcoast as an Executive Director. I have had a memorable and learning experience with a large networking reseller - NSCGlobal – and so return to Westcoast Limited with enhanced knowledge of the channel and wide remit to continue Britain’s largest privately owned IT company’s growth in the UK and Europe.”

The Theale-based tech distributor posted a turnover of more than £3.4 billion for the year ending 2021 and currently employs around 1,250 employees.

Alex spent nearly nine years as managing director at the firm having previously held the position of sales and marketing director for five years which he embarked on when the company’s annual revenues were at £600 million.