Gym Gear acquired by Findel

A fitness equipment wholesaler that employs 26 people on the outskirts of Preston has been sold to an educational resources supplier.

Hyde headquartered Findel has acquired Gym Gear as it looks to expand into the sports equipment field.

Gym Gear provides gym design, commercial gym equipment and installation services for fitness facilities across the UK. The company supplies directly to the education, leisure, public and blue lights sectors.

Findel, which is part of the Manutan Group, will operate Gym Gear as a standalone business alongside its Davies Sports brand in the UK and Manutan’s Casal Sport brand in France.

All terms relating to the deal are undisclosed.

Gym Gear was founded in 2005 by directors Richard Lambert and father and son, Roy and David Bulcock. Following a short transition period, Roy will retire from the business. All 26 employees will remain with the business following the acquisition.

Findel chief executive Chris Mahady said: “Gym Gear has earned an excellent reputation over its past 21 years of trading. This has created a strong and recognised physical fitness brand in the markets the business serves, and we see significant opportunities for further growth.

“We will provide the Gym Gear team with the support and investment required to further enhance the products and services they provide.

“We look forward to working closely with the team, learning from one another and building on our collective strengths as we continue to grow and deliver even greater value for our customers.”

Richard Lambert said: “Joining Findel provides us with a significant opportunity to accelerate the next phase of Gym Gear’s growth. We intend to use the additional backing to strengthen our position in the market and pursue opportunities at greater pace and scale.

“For our customers, it very much remains business as usual. They will deal with the same team, continue to have access to our range of high-quality products and receive the exceptional service standards they are used to.”

Findel was advised on the transaction by law firm Cripps and PwC, while national accountancy and advisory firm MHA and law firm Harrison Drury acted for Gym Gear.