gunnercooke Restructuring & Insolvency Partner Chris Jones has advised on the acquisition of cycling skincare brand VeloSkin.
Andrew Banks and Chris Iredale have bought out the company’s other partners, co-founders Chris and Tanya Bairstow along with minority shareholder Paul Roper, following a period of rapid growth for the brand.
Halifax-based VeloSkin’s Chamois Cream is now the best-selling product of its type on Amazon, having overtaken two previous market leaders during the summer.
A spokesman said: “Online sales have been driven by e-commerce specialist Andrew, with a global uplift in demand for products both through the VeloSkin website and Amazon. A former head of e-commerce for Matalan, Andrew runs the ecommerce business Venture Forge, that specialises in growing sales for brands on Amazon.
“Business coach and mentor Chris, meanwhile, has developed partnerships and sales through cycling shops in the UK and international distribution outlets both in Europe and the US, as well as securing many partnerships for VeloSkin including their sponsorship of cycling teams. Chris also runs business growth consultancy Thriven.”
VeloSkin creates products designed to protect cyclists’ skin and has attracted a following among professional and amateur cyclists.
Since launching in 2017, VeloSkin has added four other premium products to the range, including recovery gel and moisturiser.