Leading French motorcycle aftermarket group 2RH, probably best-known for its Shark helmet brand, is now under the control of a new investor. BDN financial editor Roger Willis reports.
Private equity firm Naxicap Partners, owner of 2RH since 2015, has cashed in most of its chips by selling a majority stake to larger private equity operation Eurazeo PME. Details of the transaction remained confidential. Naxicap will continue to be represented on the 2RH board of directors.
Besides Shark, 2RH’s portfolio includes the Bering, Bagster and Segura motorcycling brands, plus Cairn ski and cycling products. The business currently turns over about £90m annually, with production plants in France, Portugal and Thailand employing around 600 staff.
In a statement, Eurazeo PME associate director Erwann Le Ligne outlined plans to double 2RH’s size within five years, by boosting innovation and accelerating international development. Eurazeo PME specialise in small and mid-cap corporates but its parent is a multinational investment group with more than £5bn in assets under management and a significant US presence, so opportunities in the American market are obviously on his agenda.
Commenting on the deal, 2RH chairman Patrick Francois said: “We’re really pleased about the prospect of Eurazeo PME as a long-term shareholder, in efforts to speed our development. The input of a professional investor like Eurazeo enables us to entertain new external growth opportunities at the European and even global scale.”