Two of the UK’s longest established bicycle manufacturers, Pashley Cycles and Alex Moulton Bicycles, have merged to form a new company
Paul Bennett, corporate partner at Cradley Heath-based law firm George Green, advised Stratford-upon-Avon-based Pashley on all the legal aspects of the formation of the new company, called The Moulton Bicycle Company, which will manufacture, market and distribute the iconic Moulton and Pashley-Moulton TSR ranges of bicycles.
Founded in 1926, Pashley Cycles is England’s longest established cycle manufacturer, producing more than 150 models of hand made, specialist bicycles from contemporary city and commuter bikes to work bikes and tricycles.
Established in 1958 by Dr Alex Moulton, Wiltshire-based Alex Moulton Bicycles has led the world in the design and manufacture of full suspension, small wheeled, high performance bicycles, widely renowned as a design classic; with top of the range models retailing for up to £8,000. More than 50 per cent of the company’s output is exported, with the brand being particularly sought after in Japan and the Far East.
Pashley Cycles and Alex Moulton Bicycles have collaborated for the past 12 years, with Pashley manufacturing and marketing the Pashley-Moulton TSR range. Together the two companies employ in excess of 50 people.
The establishment of The Moulton Bicycle Company secures the future of the Moulton brand, with greater resources available for manufacturing, distribution and marketing. Manufacturing will remain at Moulton’s specialist workshops in Bradford-on-Avon, where, in time, the company hopes to create some new jobs.
Dr Alex Moulton, who becomes president of the new company says: “I have been seeking a route by which we can increase the manufacturing and distribution of our bicycles and establish a solid base for the future growth of the Moulton bicycle business.
"This new initiative will allow us to increase our market penetration and reduce our supply times. This will enable us to develop new marketing programmes, strengthen the enviable reputation of the Moulton brand and ensure our bicycles remain at the forefront of the small wheel bicycle revolution.”
Adrian Williams, managing director of Pashley Cycles, said: “The Moulton Bicycle Company has a substantial order book and a waiting list of 15 months for particular models, so the task will be to increase production output and at the same time open up new markets, which should not be difficult as these superbly engineered cycles are much admired worldwide.”
Pashley Cycles is a long established client of George Green, which has advised the company and its shareholders on a range of transactions.
According to Paul Bennett, the establishment of The Moulton Bicycle Company makes absolute sense, as it will be the basis for even further success for two strong British brands.
He says: “Pashley and Moulton are two legendary brands in UK manufacturing, and, they are two of the very few remaining true bicycle manufacturers left in the country, as they genuinely hand make the cycles here, rather than just being an assembly or import – distribution only operation."