Long-established UK bike apparel and accessories distributor TranAm, based at New Milton in Hampshire, has been acquired from the Lloyd family by Finland’s Duell — a dominant motorcycle aftermarket giant in the Nordic countries and an increasingly major player throughout Europe.
Duell has bought TranAm in its entirety for £11.9m. About 60% will be paid at the deal’s formal conclusion, and the balance due at the end of 2023. TranAm turned over £10.7m in its fiscal year to 31 March 2022 and annual operating profit almost doubled to £2.1m. More than 90% of revenue came from motorcycling-related sales through over 400 dealers in the UK and Ireland, plus minor contributions from ski, snowboarding and pet products.
Synergies from the acquisition are obvious, given TranAm founder Rick Lloyd’s extremely fruitful association with high-end European and Scandinavian apparel brands across several decades. Current TranAm managing director Pete Lloyd will continue to lead the business.
Surveying the new vista in front of him, Pete Lloyd said: “I’m sure you can imagine it’s very exciting yet emotional news for us! We’re thrilled to join forces with Duell, a company that shares our passion for powersports and commitment to quality and service. This will enable us to offer customers more choice and value than ever before.”
Duell chief executive Jarkko Ämmälä also sees the move as a win-win scenario. “We can significantly strengthen our market position in the UK,” he added. “TranAm provides us with fast access to the large UK market and a strong foothold to further grow our business. We can bring our own brands to a wide range of consumers in the UK through TranAm’s very successful motorcycle clothing distribution channels.”