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Merino Capital, a UK SME investor, has announced the acquisition of independent motorbike dealerships, Premier Bikes and Triumph Oxford with support for the transaction from Shawbrook.
Established over 25 years ago, Premier Bikes are a dual Franchised KTM and Triumph motorbike dealership based near Abingdon, Oxfordshire. Since their inception, the business has grown into one of the UKs leading KTM and Triumph franchised dealerships, selling premium new and used bikes to customers across the country, as well as providing comprehensive after-sales care and accessory sales services.
With both Triumph and KTM investing heavily into the UK market, Premier are core partners for both brands in Oxfordshire and surrounding counties, supporting significant growth in sales over the past two years as demand for motorbikes increased during lockdown.
Premier have now been acquired by Merino Capital in a deal supported by Shawbrook, allowing the previous shareholders to retire from the business. With both Merino and the shareholders seeking to ensure a smooth transition between ownership, Merino engaged with Shawbrook to provide a flexible working capital loan to complete the acquisition.
Shawbrook would also like to thank the team at Shoosmiths for their legal support in the deal.
- Mark Colley, Managing Director at Merino Capital
Mark Colley, Managing Director at Merino Capital, said:
“We are delighted to complete the acquisition of Premier Bikes and become part of their journey. The team is highly respected in the motorbike sales market, and are vital partners to two leading brands in Triumph and KTM. We look forward to supporting the team on their growth journey as they continue to provide excellent service to their customers.
“The team at Shawbrook have been both supportive and flexible. Thanks to their support, we were able to ensure the needs of each party were met within the right timeframes.”
Oliver Sutton, Director at Shawbrook, said:
“It’s been a pleasure to support Premier Bikes through this acquisition, while continuing our long-standing relationship with Merino. Mark and his team have a strong track-record of recognising strong business potential, and this transaction is a prime example. The expertise of the businesses is unparalleled, and it was a delight to be able to come to an agreement that worked for all involved. We wish all future success to Merino and Premier.”
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