Maven sells its stake in cycling clothing brand Endura
Maven has sold its stake in Endura, the cycling clothing brand, which has been bought by Pentland, the company behind of other major sporting brands such as Berghaus, Speedo and Canterbury.
Maven invested in Endura in 2014 as part of an investor syndicate led by Penta Capital LLP (Penta). Scottish headquartered Endura was established in 1992 by Jim McFarlane and Pamela Barclay to provide a range of innovative, high performance cycle clothing with dependable functionality at an affordable price.
The business has since grown to become one of the UK's largest makers of branded cycling apparel, with the Company’s products being sold in over 40 countries, including key markets in Europe, Russia, North America, Australia and New Zealand.
Endura designs and manufactures its range of cycling apparel (clothing, eyewear, luggage and helmets) from its modern facility in Livingston, Scotland, and caters for all the key cycling categories - mountain, road, race, performance, leisure and commute. The brand is also the official clothing sponsor to the Movistar, one of the biggest competing teams in the Tour De France and its apparel is worn by the likes of Colombian cyclist Nairo Quintana and the Scottish stunt cyclist Danny MacAskill.
The sale of Endura represents another profitable exit for Maven clients and the third successful realisation from its partnership with Penta following the sale of the leading online insurance provider esure, and the telecom services platform Six Degrees Group.
“Endura has built a valuable global brand with a raft of award-winning innovative products that appeal to large numbers of road and mountain bikers, cycle commuters and triathletes. Under Maven, Endura’s strategy has been focussed on positioning the business as a provider of high quality, innovative products underpinned by significant investment in product innovation and world class sponsorship. It’s been a great pleasure supporting the team and we are delighted to see them join the Pentland Group which has an enviable stable of global sports, outdoor and fashion brands and has the resources and reach to support Endura’s continued growth. We wish the team at Endura all the best for the future."
Dr David Milroy, Investment Director at Maven.