LOOK Cycle has announced new financial backing from the French equity firm, Active Capital, who now holds a majority stake in the brand, alongside the existing owners, Dominique Bergin and Thierry Fournier.
With a turnover of €45m ($50 million) and around 400 professionals, LOOK is regarded as one of the most innovative French companies in the bike industry.
The company assigns more than 10% of its turnover toward research and development with a portfolio of over 230 patents. Over the years, LOOK has been the recipient of numerous awards as one of the most innovative companies in the bike sector.
“With the arrival of Activa Capital, Look intends to capitalize on its strong position in Europe to accelerate its growth and its international development, in a sector which is enjoying sustainable growth,” the company said, noting that it already generates 75 percent of its sales outside France.
Bergin said, “Look has many development projects and we wanted the support of a highly reputable financial partner. We are pleased to welcome Activa Capital with whom we share a common growth vision for our brand.”
Charles Diehl, a partner at Activa Capital, said, “We were attracted by this resolutely dynamic and innovative family business and have built a strong relationship over the past 18 months with the management team. We are particularly pleased to be partners in the next phase of Look’s development, and to support this iconic sports brand in accelerating its international growth.”
Look will have a major presence at the Tour de France, which starts Saturday. The company supplies frames to the Fortuneo-Vital Concept team and supplies pedals to nine other teams. Former Tour champion Alberto Contador and current world champion Peter Sagan will start the Tour on personalized Look Keo Blade 2 pedals, and the Astana team will ride with both Corima wheels and Look pedals.
LOOK purchased a majority stake in the prestigious Corima brand earlier this year.
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