Brompton has partnered with capital investors BGF to confirm the folding bike manufacturer's first equity capital raise for 35 years, totalling £19 million of investment.
"Over the last two decades, Brompton has grown organically at circa 20 per cent a year, funded by reinvesting our profits," he explained. "For the year ended March 2023, turnover grew 21 per cent to £130m, supported by the launch of the Superlight T Line and Electric P Line products. "The impact of climate change is being felt by us all and the greatest carbon emissions come from our cities where most of the world’s population now lives. Our team at Brompton are brimming with ideas to accelerate our growth through product innovation, storytelling, outstanding stores and having fun with our amazing community. But if we are really going to go for it, we need to strengthen our balance sheet to give us the confidence to be more ambitious.
"From the outset, there has been a clear synergy between Brompton and BGF, with shared long-term goals and a focus on sustainable growth that is good for both people and planet," she said.