United Kingdom based distributor of motorcycles
GreenBank Capital portfolio company Staminier Limited seeks to enter the Electric Vehicle (“EV”) Motorcycle Market by acquiring the South of England’s largest distributor of motorcycles. Staminier Limited has entered into a 45 day option agreement to acquire P&H Motorcycles Ltd (“P&H”), the South of England’s biggest distributor of high-performance motorcycles, including Ducati, Yamaha, Kawasaki, Suzuki, KTM, Scrambler and Honda.
The average monthly sales of P&H over the last three years has been approximately C$1.7m per month (C$20m per annum) and the business has sold motorbikes and accessories to over 150,000 unique customers in its 40 year history of success.
During the global pandemic P&H has seen demand for smaller 125cc bikes increase significantly and P&H and Staminier see considerable scope for expansion into the lower powered motorcycle market. However, both companies see the greatest area of expansion as supplying the likely substantial increase in demand for electric powered motorcycles and scooters and P&H, with its powerful market position and highly extensive database of motorcycle clients and enthusiasts, is best placed to capitalize on the forthcoming transition from conventional bikes to electric power.
P&H has net assets of just over C$1.7m including freehold property valued at C$4.25m sited near London Gatwick and is an ideal location for servicing the expected fast growth in EV demand. Despite the pandemic P&H is currently profitable on a month to month basis and expects to generate net annual profit of not less than C$425,000 in 2021.
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