Former Team Sky cycle clothing supplier Rapha appoints bankers William Blair for sale

William Turvill
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Le Tour de France 2015 - Stage Eleven
Rapha was Team Sky's clothing supplier between 2012 and 2016 (Source: Getty)

Cycle-wear firm Rapha is gearing up for a sale, with bankers hired to weigh up the company’s future.

Investment bank William Blair has been appointed for a process that is likely to lead to a sale, although an initial public offering is also being considered.

Rapha is partly owned by Active Private Equity, which is also invested in cycling retailer Evans Cycles, Honest Burger, Leon and Soho House.

Read more: New success cycle? Why Rapha split from Team Sky

Sky News first reported that William Blair had been appointed for the likely sale of the business.

Rapha achieved revenues of £63m in the year to January, up 30 per cent on the year before.

Founded by Simon Mottram in 2004, the company has grown its headcount from three to 350. The firm was a Team Sky clothing supplier from 2012 to 2016.

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In addition to supplying clothing, Rapha also established itself as an international cycling club in 2015 and now claims 10,000 members.

Active Private Equity and William Blair declined to comment.

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