A CYCLE parts supplier hopes to shift up a gear after receiving fresh investment.

ZyroFisher has been supported by Palatine Private Equity.

The move sees Palatine join fellow investor LDC in backing the Darlington-based cycling operator, with LDC having last year assisted a management buyout of the original Zyro business and subsequent takeover of Fisher Outdoor Leisure.

Loading article content

Racking up annual sales of more than £75m, ZyroFisher supplies retailers such as Wiggle, Halfords and Evans, as well as thousands of independent traders, and Matthew Barker, chief executive, said Palatine’s support will be invaluable to its future growth.

He said: “This is an exciting development for the business, our customers, partners and team.

“Bringing on board additional investment now means we can accelerate our expansion plan.

“LDC’s support has been invaluable in the successful integration of Zyro and Fisher.

“Having such a supportive partner on board during the next phase of our journey alongside Palatine gives us the confidence to scale up our plans.”

Palatine’s team was led by partners Ed Fazakerley and Andy Lees, who will join the board as non-executive directors.

ZyroFisher, based on Darlington’s Faverdale industrial estate, was originally founded as Zyro in 1995 by husband and wife Simon and Julie Ellison.