Bright future ahead for Yorkshire bike manufacturer
Iconic UK bike manufacturer Orange 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 Bikes specialises in hand built performance bikes and boasts a pedigree of multiple world championship wins with riders including Sheffield legend Steve Peat. The deal sees Orange Bikes come together with its long term precision engineering partner, Elland based P. Bairstow.
Ashley Ball, managing director of Bairstows and Orange Bikes, 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.”
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 Bikes. I have no doubt that Ash’s enthusiasm for Orange Bikes 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 Bikes’ expansion through exporting over the coming years. We are very pleased to support this growing British brand”. HSBC was advised by Irwin Mitchell.
Looking forward Mr Ball added “As one of Orange’s earliest fans it is important to me that the core values of the brand and its products are protected while embarking on a vision to broaden the range of bikes and establish the brand in new markets.”
“The team at Orange Bikes have done a great job in growing the business into the UK’s premier performance 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.”
“To carry the mantle of Orange bikes is an incredible responsibility but also presents an amazing opportunity.”