We are very excited to announce that we have been acquired from Cairngorm Capital by Causeway Capital (Causeway).
· The acquisition transfers 100% ownership of Whyte to Dublin based Causeway Capital.
· The move is a major step forwards for the future and international growth of Whyte.
· The existing Whyte management team will remain with the business, with Nikki Hawyes continuing to lead the company.
Whyte and Causeway Capital both believe the partnership will strengthen the company’s ability to drive ongoing innovation, service its dealer base and collaborate with key suppliers and partners. Further, 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.
“We knew from the start that the Causeway Capital team were a great investment partner for Whyte Bikes,” said Whyte CEO Nikki Hawyes of the news. “This new partnership is an exciting step forward, building on our 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. I want to thank the team at Cairngorm Capital – their partnership and support have been invaluable in driving our transformation and bringing us to where we are today.”
Matt Scaife, Partner at Causeway Capital said: “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.”
About Causeway Capital
Causeway Capital is a growth focused private equity firm investing in businesses across Ireland and the UK. The firm recently closed its second fund, Causeway Capital Partners II, with a focus on innovative SMEs with sustainable growth plans.
Learn more at: causeway.capital
