Wiggle, the leading online cycling and tri-sports retailer, has been acquired by European private equity firm Bridgepoint in a transaction totaling £180 million.
Portsmouth-based Wiggle was founded in 1999 initially to sell cycling accessories but by 2003 had expanded its offer to include running and swimming goods. ISIS invested in the business in 2006, and today it the UK’s leading online retailer for enthusiastic road cyclists and triathletes, and truly global in its offering. It has over 1 million shopper visits a week to its online stores and over 600,000 customers shopped with Wiggle in the last 12 months.
Wiggle’s management, led by Andy Bond and Humphrey Cobbold, will remain with the business and will make a significant personal investment in the business as part of the deal.