Travers Smith LLP is advising Wiggle on its merger with Chain Reaction Cycles. The transaction is subject to a number of regulatory approvals, including merger control clearance from the Competition and Markets Authority (CMA).
The Travers Smith team is being led by Head of Private Equity Paul Dolman and also includes private equity associates Asma Rashid, Ian Keefe and Katie McGarry. Competition partner Nigel Seay and competition associate Stephen Whitfield are advising Wiggle in relation to the CMA process. Tax advice is being provided by tax partner Simon Skinner and tax associates Andrew Callaghan and Amie McFadzean. Finance partner Jeremy Walsh and finance associate Matthew Smith are advising Wiggle on its banking arrangements.
The merger will further strengthen the combined business' position in the global online retailing world of cycling, running, swimming and triathlon (tri-sports) products and accessories. Together, Wiggle and CRC will be able to supply a broader offering and a stronger platform with which to attract new brands and compete in the wider cycling and accessories market. Financially, the combined business will have revenues in excess of £300m.
Chain Reaction Cycles is being advised by Richard Gray of Carson McDowell LLP.