NEWS HUB Storskogen UK acquires majority stake in Extra UK E
xtra UK has secured an investment from Storskogen UK, which has acquired a majority shareholding. Wellingborough-based distributor Extra’s existing
portfolio of exclusive brands includes Abus, Brooks, Crankbrothers, Ergon, Fizik, Pirelli, and Topeak. Founders Brian Stewart and John Phillips will continue
to hold shares in the company and remain on the board of directors, working alongside the existing management team led by recently-appointed CEO Will Fripp. “We are delighted that Storskogen has chosen to partner with us,” said Fripp. “I truly believe in this business and have a passion to drive it forward on its current path. Storskogen’s support and expertise will be highly benefi cial as we continue to deliver our ambitious plans for the company.” Swedish investment management fi rm Storskogen acquires and manages small and medium-sized enterprises within industry, trade and services in the Nordic countries, DACH
Chicken CycleKit welcomes Limar Helmets to portfolio
C U
hicken CycleKit has welcomed Limar Helmets into its family of brands, adding a highly
respected and globally recognised name into its portfolio from 1st March. Helmets for every type of riding are available and stock is
available now from Chicken CycleKit, who are actively looking for stockists for the brand. For more information about Limar Helmets and how you can become a stockist, please contact Dale Moore in the sales team on 01525 381347 or email him at
dale.moore@
chickencyclekit.co.uk ■
and the UK. At the end of 2021, Storskogen consisted of 105 business units with a total of approximately 9,000 employees and a trailing annual turnover (RTM pro forma) of almost 23 billion Swedish Krona (£1.8 billion). “We have been extremely impressed by Brian, John, Will and
the entire Extra UK team who have developed a strong position within cycling parts and accessory distribution,” said Erika Butterworth, investment director, trade at Storskogen. “Storskogen already owns companies in the international
cycling industry and we are excited to use our existing knowledge of this market to support the Extra UK team with their next phase of growth. We warmly welcome Extra UK to the Storskogen family.”■
VeloBrands adds Absoluteblack to distribution portfolio
UK-BASED cycle industry distributor VeloBrands has added Absoluteblack to its distribution portfolio. Absoluteblack is the largest manufacturer of oval chainrings in the world and in recent years has expanded its range to include lubricant and pulley cages. Bruno Nascimento, head of sales at Absoluteblack, said:
“VeloBrands off ers us the focus needed to build our brand. They have a great team with lots of experience, a fresh outlook with new ideas and I am delighted to be working with them.” ■
Brompton sets out plans for “revolutionary” new factory in Kent
K bike manufacturer Brompton is taking the fi rst step towards creating a “revolutionary” new factory in Ashford, Kent, and will be submitting planning
permission for the development. The new factory will be constructed on a fl oodplain, which will
provide an opportunity to restore the wetland and promote walking and cycling for the local community. The scheme will house a production facility and will become the
10 | April 2022
Brompton global headquarters, and by 2027, the company expects to employ over 1,500 staff . The development will have outstanding insulation, utilise
natural light and airfl ow to minimise energy consumption, and use solar and ground source energy to contribute to its energy demands, the London-based bike- builder said. Brompton’s current factory in
Greenford, West London will continue to operate until at least 2030.■
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