Extra UK takes new majority investor in Storskogen

Cycling goods distributor Extra UK has taken on board a new majority investor in the form of Storskogen, an investment vehicle that specialises in acquiring profitable firms seeking to “secure their future and unlock their potential.”

The buyout from Extra’s founders, Brian Stewart and John Phillips, comes on the back of the recent hire of industry veteran Will Fripp to the role of CEO. Brian and John, who founded the business in 1995, will continue to hold shares in the company and remain on the board of directors working alongside the existing management team.

“We are delighted that Storskogen have chosen to partner with us. I truly believe in this business and have a passion to drive it forward on its current path. Storskogen’s support and expertise will be highly beneficial as we continue to deliver our ambitious plans for the company”, said Will Fripp, CEO of the Wellingborough distributor.

Today, Extra along with its Irish subsidiary Cyclex, is one of the leading UK distributors in the industry serving a loyal customer base and a growing team of 32 full-time staff.

“We have been extremely impressed by Brian, John, Will and the entire Extra UK team who have developed a strong position within cycling parts and accessory distribution. Storskogen already owns companies in the international cycling industry and we are excited to use our existing
knowledge of this market to support the Extra UK team with their next phase of growth. We warmly welcome Extra UK to the Storskogen family”, said Erika Butterworth, Investment Director, Trade at Storskogen.

Extra will be exhibiting at this year’s CoreBike show at Whittlebury Hall on March 20th to 22nd where it will display goods from its brands, including Topeak,

At the end of 2021, Storskogen consisted of 105 businesses with a total of approximately 9,000 employees and a trailing annual turnover (RTM pro forma) of almost SEK 23 billion (£1.84 billion).