Moore Large, a former major bicycle, motorcycle and scooter distributor, has secured an eight-figure funding package from HSBC UK to support its growth plans and back a management buyout (MBO).
Moore Large can trace its roots back to 1947, when John Moore opened his first bike shop in Rickmansworth. Later, the company also successfully distributed the SYM scooter and motorcycle brand in the UK between 1998 and 2010, followed by a short spell with the Chinese brand CPI. It was then the distributor of the KSR Moto, Brixton and Nipponia brands from 2013 before finally closing the doors on its motorised division in 2019.
The funding will contribute to an MBO that will see four members of the senior management team – Andrew Walker, Dale Vanderplank, Adam Biggs and Adam Garner – take over the running of the business after 50 years of ownership by the Moore family.
The move comes as chairman and managing director Nigel Moore announced his retirement after many years at the helm. Moore said: “After over 40 years leading the company, I’m excited to be retiring and entering a new phase in my life.
“The last few years at Moore Large have been particularly successful and now feels like the right time for me to hand over the company to the senior management team.”
Andrew Walker, commercial director at Moore Large, added: “The demand for bikes continues to increase and as our long-term financial partner, the funding from HSBC UK will greatly help to support the future development of Moore Large as the new board gears up for major growth.