The co-founder of a global motorcycle and cycle accessories brand Renthal, based in Stockport, has bought back the business 12 years after he sold it to a US group.
Motorcycle enthusiasts Henry Rosenthal and Andrew Renshaw established Renthal in 1969, initially making handlebars for trials bikes. The company’s name is a blend of the duo’s surnames.
They sold Renthal in 2006 to Motorsport Aftermarket Group.
Henry, who has remained actively involved in the business supporting the management team as chairman, has now bought it back in a multi-million pound deal.
Andrew passed away in 2013 and his widow Claudine has supported the transaction.
Nigel Barratt, head of HURST Corporate Finance, advised Henry on the buy-back.
Renthal operates from a 41,000 sq ft manufacturing and engineering facility in Bredbury, Stockport. The business turns over £12m a year and employs 90 staff.
Its management team is led by managing director Tom Wade.
The company is a global leader in the design, manufacture and sale of products for the motorcycle and cycle markets.
Products include handlebars, grips, bar mounts, levers, hand guards, chain wheels, chain and brake pads. Around 80 per cent of its products are exported, to more than 60 countries.
Renthal’s products are used by Honda, Kawasaki and Suzuki as original equipment for their performance motocross models.
Overall its products have been used by nearly 200 motorcycling world champions and, since it expanded into the cycle products industry in 2010, by six world mountain biking champions.
Following the sale of Motorsport Aftermarket Groupin April to a syndicate of US private equity investors, the opportunity arose for Henry to buy back Renthal.
“When MAG decided to sell Renthal I was determined to back Tom and the team to maintain the company’s reputation as a trusted brand and continue to support its growth and product innovation.”
“Renthal is a world-leading brand, with great products and a dedicated workforce.
“Next year will be our 50th anniversary and, with Henry’s support and as an independent business, we have an exciting future.”
Funding for the acquisition and future working capital was provided by a team at Praetura Commercial Finance led by Stuart Bates.
Frank Shephard, head of corporate at law firm DWF, led a team who provided legal advice for the transaction.
Nigel Barratt said:
“I have known Tom and Henry for many years and it was great to have the opportunity to work with them and restore Renthal’s independence. I have every confidence that the brand will continue its success in the future.”