Prime collaboration helps Specialized Bicycles with strategic acquisition

20 Jan 2023

Last year we played a key role in global cycling brand Specialized Bicycles’ UK expansion, supporting its acquisition of four retail businesses.

We advised Specialized Bicycles on its purchase of three independent UK cycling stores and one large UK independent cycling chain.

Specialized was founded in California, USA, in 1974 and has since grown into a significant global brand.

It boasts many professional mountain bike riders among its sponsorship roster, including the downhill world champion Loïc Bruni.

Specialized used our services for due diligence and tax structuring around the acquisitions throughout 2022, working with director Jamie Skelding.

Frank conversations

Simon Homer, UK and Ireland managing director for Specialized, said: “I have a good relationship with Jamie and Prime, who are an easy, approachable accountancy firm. This enables us to have frank conversations and get the job done.

“Our experience is we like the way they work. They are readily available, easy to deal with, friendly and approachable. I always spoke to the same person, which is not like the big firms.

“We could have reached out to any of the big firms, but there are layers of bureaucracy and you don’t get the level of expertise you get with Prime.

“The work was delivered in a timely fashion; the accuracy of information was good, and the summary followed within the agreed timeframe. Prime delivered on its promises.”

Delivering results

Jamie said: “It was a pleasure to assist Simon and Specialized with these transactions, providing a personalised service which delivered results.

“We pride ourselves on providing a fantastic service with honesty and integrity, which enables us to work effortlessly with companies of Specialized’s standing.”