Muckle helps UK’s leading cycle firm put growth plans in motion

November 1, 2021

Leading independent law firm Muckle LLP has supported cycling retailer Wheelbase on an investment deal that will help the business accelerate its growth journey.

The UK’s leading premium cycle retailer, Wheelbase is geared for growth after securing investment from global retailer JD Sports, aided by advice from the corporate team at Muckle LLP.

The business, founded in 1993, has its origins in Cumbria and its flagship store remains in the village of Staveley.

It also has outlets in Darlington and Ilkley, as well as a highly successful online store, which sells a diverse range of premium brands such as Trek, Cube, Cannondale, Scott, Merida, Pinarello, Whyte, Focus, Nukeproof, Cervelo, BMC, Kona and many more.

The deal, completed last month, sees JD take a majority stake to help power the firm’s growth plans.

Officials say it will see the Wheelbase brand retained and the existing management team continue to lead the business.

They add it leaves the firm ideally placed to capitalise on emerging opportunities amid a strong outlook for the cycling industry. Wheelbase – which also lends support to the British elite road cycling team Wheelbase MGD and junior team Wheelbase CabTech – was advised
by award-winning corporate lawyers and partners at Muckle LLP Philip Clare and Matthew Walsh.

Cavu Corporate Finance’s managing director Shawn Bone and assistant director Sahil Nayyar led the deal on behalf of shareholders.

Chris Herd, managing director of Wheelbase Lakeland Limited, says: “We’re extremely pleased to partner
with the JD Group and the service we’ve received from Muckle LLP in securing the deal has been second-to- none.

“Nothing was too much trouble and the team pulled out the stops to get us over the line.”

Matthew adds: “We are proud to have supported Wheelbase on this deal, which represents an important milestone in their successful business journey.

“With the JD Group’s support, I am sure the team at Wheelbase are well on the road to greater success.

“As a leading law firm for businesses, it is fantastic to see an already successful business going from strength- to-strength.”

Toby Dalton, commercial director of Wheelbase Lakeland Limited, says: “When it comes to technical expertise, the team at Muckle were on top of the detail, guiding us through the legal process and helping us secure this investment from the JD Group that will bring world-class operational support to the firm.”

Shawn Bone, managing director at Cavu Corporate Finance, says: “We are delighted to have been part of the Wheelbase story and to have delivered an excellent result for the shareholders, JD Group and the Wheelbase employees.

“It has been a real pleasure to work with the Wheelbase team and we wish them the very best for the future.”

Lee Bagnall, chief executive of the outdoor division within the JD Group, adds: “We are delighted to have completed the acquisition of Wheelbase.

“We have been impressed by the capabilities of the management team and we look forward to working with them to enhance the cycling offer within the JD Group.”