Le Col, which is a London, UK-based cycling brand, today in a report has announced that they have raised an amount of £2.35m in the funding round. Puma Private Equity made the investment and has an option to increase it to £3.5m.
The company as of has a plans to use the funds to continue to expand its business reach. The company which is led and founded in the year 2011 by ex-professional cyclist Yanto Barker, Le Col develops and offers a technical cycling kit made in their own factory in Treviso, Italy.
The company, which has raised £1m in crowdfunding in 2017, partners with Eurosport, Strava, MatchesFashion and Sigma Sports.This year, the brand partnered with Bradley Wiggins to create his own range of products with the brand.
Yanto Barker, Le Col Founder, commented, “We are delighted to welcome Puma Private Equity 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.”
Tommy O’Sullivan, Managing Director at Puma Private Equity, who will join the Board of Le Col added, “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.”
Chand Chudasama, Director at Price Bailey in its Strategic Corporate Finance team, said “Le Col is a really special business for us; we have worked with the management team for two and a half years now. They are a really strong team focused on performance, their customers and an exceptional product range.
“Though there was strong interest in Le Col from a variety of investors, once Puma demonstrated their understanding of what drives value in this sector and then matched this with a really pragmatic and commercial approach to doing a deal it was clear that they would be the perfect investment partner for the future. We’re delighted to see Le Col now have the opportunity to go to the next level.”
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