Travers Smith LLP has advised Bridgepoint and certain other selling shareholders on the sale of WiggleCRC to SIGNA Sports United (SSU). As part of the transaction, SSU began trading on NYSE following a business combination with Yucaipa Acquisition Corporation, a special purpose acquisition company (SPAC) led by Ronald W. Burkle. The business combination was approved by Yucaipa’s stockholders in a special meeting held on December 13, 2021.
WiggleCRC is a leading global online retailer of specialist bikes and sporting apparel and equipment. In addition to selling a broad range of external products across these verticals, the business includes a highly regarded portfolio of owned brands, including DHB, Nukeproof, and Vitus. Headquartered in the UK, the business has more than 2.2 million active customers, the majority of whom participate in more than one sport. WiggleCRC serves a global customer base, delivering to 75+ countries, and benefits from a well-invested platform and strong partnerships with global logistics groups.
The combined SSU and WiggleCRC business has been described as the world's leading online bike platform.
The Travers Smith team was led by Private Equity & Financial Sponsors Partner Ian Shawyer and Senior Counsel Alex Dixon. They were supported by Private Equity & Financial Sponsors Senior Counsel Asma Rashid and Associates Tom Halsey and Cari Sweeney. Tax advice was provided by Tax Partner Simon Skinner.
