The Business and assets of Orange Mountain Bikes Limited and their frame manufacturing division; P. Bairstow Limited, both based in Halifax, West Yorkshire have been rescued from administration by Director Ashley Ball.
Orange Bikes was founded in 1988 and has gone from strength to strength for well over 3 decades, in the process becoming a cult brand within the mountain biking world, with their unique designs, British made frames and racing pedigree allowing them to stand apart from the mainstream.
As with a number of businesses in the cycle sector, Orange has experienced several challenges in recent years, largely as a result of the COVID-19 pandemic.
Moving forwards the deal secures 30 jobs and will see Orange and Bairstow consolidate operations into one site, with Bairstow already closing its third-party engineering division.
Ash Ball, Director of Orange Bikes commented: "Restructuring the businesses was never going to be an easy process but the decision to do so has preserved the livelihoods of the people at the heart of the organisation, streamlined our operations and ensured the continued strength of the Orange Bikes brand and its products"
Ball was advised by Leeds based J9 Advisory who assisted in structuring, funding and executing the transaction.
Johnny Abraham Managing Director of J9 Advisory commented: "To be honest, I had no idea how famous Orange Bikes was or what a tremendous following it has! Ash clearly has a huge passion for bikes and the Orange brand and wanted to do whatever it took to rescue the business.
We are glad that we could provide the expertise required to rescue this well respected British brand
Thanks go out to TFG Capital and E Capital, together with BDO for their respective roles in completing this transaction"