Encore Capital Acquires Majority Stake in Pro Bike Kit

Encore Capital recently acquired a majority stake in Kendal, UK-based Pro Bike Kit, an online bike accessories retailer.

Encore identified an MBI candidate and supported the acquisition of the business from its retiring founders. In addition to the transaction, Steve Robinson, former CEO at M and M Direct, has joined as chairman.

Founded in 1998, PBK is an online retailer for road cycle parts, accessories and clothing serving thousands of customers per week in over 80 countries globally.

According to Encore’ web site, Since investing, the London, UK-based private equity firm “…has spent significant time and resource augmenting the senior management team.
The business is forecast to deliver £20m revenue in 2012“.




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