HMT acted as reporting accountants to ISIS Equity partners and HSBC in the management buyout of Fisher Outdoor Leisure plc (“Fisher”).
Fisher was established in 1934 and has grown to be a major distributor of bike components and cycling accessories. The company enjoyed substantial growth in demand in the 1980’s due to the BMX craze and in the 1990’s with the trend for mountain bikes and associated accessories.
Growth in the last few years has been driven by a government initiative to get people on their bikes. As well as the exclusive relationships Fisher has built with key suppliers in the sector including SRAM, MET, LOOK and Dahon the worlds largest manufacturer of folding bicycles.
Fisher was bought from the Fisher family by its management team. Richard Allmark Fisher’s new managing director has been key to the development of the business in recent years, and the introduction of Alan Smith as Chairman and Iain Garden as Finance Director, will bring a great deal of high profile company experience to the management team.
Andrew Thomson of HMT commented:
“This is a great transaction for ISIS, Fisher is a great brand and one of the leading distributors of bike parts and accessories in the UK. ISIS have introduced a Chairman and strengthened the management team, which will allow the company to take advantage of the growing interest in cycling.”