SCOTLAND’S fast-growing outdoor equipment specialist 2pure announced that it has acquired technical climbing and mountaineering distributor Allcord in a move which will strengthen 2pure’s position as a distributor of premium brands. Both companies have booked stands at Slide for January 2019.
All aspects of the two businesses are complementary including the customer bases, senior management and brands. The combined company will employ 35 people. All staff are being retained and no jobs are being lost as a result of the acquisition. The company will represent top international brands and supply equipment to retailers throughout the UK and EU.
George Bowie, CEO of Edinburgh-based 2pure, said it would accelerate the company’s strategy to become a significant partner in the specialty outdoor market with the existing Allcord business boosted by 2pure’s operational strengths and highly experienced management team.
2pure, which is headquartered in Balerno, Edinburgh, was founded by George and Alison Bowie in 2006 and has established itself as a major distributor of a wide-range of premium brands for the active enthusiast with a particular focus on the running and cycling sectors.
Allcord, which is currently based in Livingston, has been a leading wholesale distributor of specialist brands for the outdoor sports, climbing and mountaineering market, as well as a leading supplier of industrial safety equipment, for more than 35 years.
The acquisition is backed by private equity company Coralinn LLP, the investment vehicle of entrepreneur Hugh Stewart and owner of Allcord.
As part of the deal, Coralinn LLP will take a 25% stake in 2pure. Hugh Stewart, who has a long record of building companies on a global scale, will become chairman of 2pure with Coralinn’s investment director, John Wardlaw, also joining the board of directors.
George Bowie said the move was “an exciting step” in 2pure and Allcord’s development.
He added: “Allcord has been on our radar for a number of years, during which time we have become friendly competitors. Getting to know Hugh and John from Coralinn has enabled us to position ourselves to acquire and integrate Allcord which is predominately a complementary business.
“Our strategy is very clear and having the support of Coralinn will enable us to focus on the future expanding our markets.”
Hugh Stewart said: “We are excited about the opportunities that will come from combining the two businesses and look forward to working with George and Alison to grow the combined business.”