Iconic UK bike manufacturer Orange Mountain Bikes has been acquired by Yorkshire entrepreneur Ashley Ball in a transaction supported by some of the region’s leading dealmakers.
Based in Halifax, Orange specialises in hand built performance mountain bikes and boasts a pedigree of multiple world championship wins with riders including Sheffield legend Steve Peat. The deal sees Orange come together with its long term precision engineering partner, Elland based P Bairstow.
Ashley Ball, managing director of P Bairstow and Orange, commented “The two companies have had an incredibly close relationship for over twenty years and bringing them under common ownership was the next natural step. In an era where most bike brands have their products mass produced in the Far East, our built in Britain ethos sets us apart.”
Lead advisor to Mr Ball was BHP Corporate Finance with a team led by Don Gray and Kevin Davies. Don Gray, partner, commented “We are delighted to support Ash on this transaction. Orange’s heritage within the UK is incredibly well established and there is a huge opportunity to take this to new overseas markets. It’s yet another great example of the world class design and engineering capabilities that reside in Yorkshire.”
hlw Keeble Hawson provided legal advice on the acquisition. Paul Trudgill, managing partner commented “It was a pleasure to assist Ash to realise his ambition of acquiring Orange. I have no doubt that Ash’s enthusiasm for Orange allied with its leading design and production teams will drive the business to even greater success”
Debt funding for the transaction was provided by HSBC Bank with a team led by relationship director Chris Alsop. Mr Alsop said “I strongly believe that HSBC's expertise in Trade Finance will assist Orange's expansion through exporting over the coming years. We are very pleased to support this growing British brand”.
Looking forward Mr Ball added “The team at Orange have done a great job in growing the business into the UK’s premier performance mountain bike brand. I firmly believe that with the additional investment we will be making into new product development we can further build on this success”.