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The business and assets of Orange Mountain Bikes Limited and their frame manufacturing division, P. Bairstow Limited, both based in Halifax, have been rescued from administration by director Ashley Ball.
Orange Bikes was founded in 1988, becoming a cult brand within the mountain biking world with unique designs, British made frames and racing pedigree.
As with a number of businesses in the cycle sector, Orange has experienced several challenges in recent years, largely as a result of the COVID-19 pandemic.
The deal secures 30 jobs and will see Orange and Bairstow consolidate operations into one site, with Bairstow already closing its third-party engineering division.
Ash Ball, director of Orange Bikes, said: “Restructuring the businesses was never going to be an easy process but the decision to do so has preserved the livelihoods of the people at the heart of the organisation, streamlined our operations and ensured the continued strength of the Orange Bikes brand and its products.”
Ball was advised by Leeds-based J9 Advisory who assisted in structuring, funding and executing the transaction.
Johnny Abraham, Managing Director of J9 Advisory, said: “To be honest, I had no idea how famous Orange Bikes was or what a tremendous following it has! Ash clearly has a huge passion for bikes and the Orange brand and wanted to do whatever it took to rescue the business.
“We are glad that we could provide the expertise required to rescue this well respected British brand. Thanks go out to TFG Capital and E Capital, together with BDO for their respective roles in completing this transaction.”
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- £24m per year for 30 years.
- £28.4m to Greater Lincolnshire for 2024/25, to be allocated prior to the Mayoral Combined County Authority being established in 2025.
- The devolution of strategy and budgets related to skills; and multi-year transport budgets, with flexibility to allocate funds to local priorities.
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- LCVS Community Transport : Looking to develop and enhance community transport infrastructure across the entire sub-region, aiming to increase the number of journeys available and volunteers taking part.
- Community-Based Digital Support Sessions :Using local venues across the Partnership area to support residents in our Districts (particularly in rural communities) to access digital services, go online and become digitally savvy , including supporting them to access key online services such as health providers and HMRC, as well as scam-awareness training.
- PAB Languages – Global Entrepreneurs : This project will provide a structured programme supporting the development of entrepreneurship and upskilling employees of our larger businesses to engage with export and international markets, drawing participants from people in employment in food processing, logistics, social care and e-commerce.
- Heritage Skills in South and East Lincolnshire :A Programme to encourage the development of traditional and ‘at risk’ heritage and craft skills, giving residents in our area the opportunity to try their hand at skills like lime plastering, traditional joinery and thatching, as well as supporting them to explore future careers in the heritage construction sector
- Connect2Grow : A project focussed on reducing economic inactivity in Boston and South Holland, helping individuals who are economically inactive or in receipt of universal credit skills training and support, identifying suitable vacancies, providing job interviews and follow-on in-work support.
- Higher Level Engineering Skills for South Lincolnshire’s Key Sectors : Working with local employers to build engagement, shape provision and strengthen local access to specialist higher level training in food and manufacturing engineering courses at the National Centre for Food Manufacturing. This will be supported by a Programme providing insight into the sector for local school-aged learners, giving them experiences of and hopefully, an interest in working in our area’s vital agri-tech and food industries.
- Future Skills Programme : Delivered by the TEC Partnership, this will deliver digital training to 100 economically inactive beneficiaries focused on digital employability skills including data management, design, multimedia and AI support, supporting this group to gain key digital skills and access employment with local employers