Mayer Brown has advised growth capital firm, Active Private Equity, and the other selling shareholders on the sale of Evans Cycles to ECI, a private equity firm.

On completion of the sale, ECI will hold a significant majority stake in Evans with the remainder held by the existing Evans Cycles management.

Active Private Equity acquired Evans Cycles in 2008 as a family-owned chain of bicycle shops based in the South East. The business has since been transformed into the UK’s leading multi-channel cycle retail brand, which serves customers through 56 shops and a well-developed e-commerce platform.

Andrew Stewart, Corporate & Securities partner at Mayer Brown, commented: "This is an exciting time for Evans Cycles as it starts its next phase of growth with ECI. We are delighted to have advised Active Private Equity on the sale.”

The Mayer Brown team was led by Corporate & Securities partner Andrew Stewart and included Corporate & Securities senior associate Connor Cahalane and associate Salma Daneshmand; and Banking & Finance senior associate Jayne Backett.

ECI were advised by Addleshaw Goddard and the management of Evans Cycles were advised by Clyde & Co.