HASTINGS, United Kingdom (BRAIN) A Dublin-based private-equity firm announced Monday the acquisition of Whyte Bikes Ltd. and that the existing management team will remain.

UK-based Whyte Bikes will transfer 100% ownership to Causeway Capital, which calls itself a growth-focused private-equity firm investing in businesses in Ireland and the UK. The firm recently closed its second fund, Causeway Capital Partners II, with a focus on innovative small and medium-sized enterprises with sustainable growth plans.

Causeway Capital and Whyte Bikes say the collaboration will enhance the brand's innovation, dealer network, and key suppliers. With Causeway Capital's support, Whyte Bikes plans to extend its reach beyond the UK and further into continental Europe and globally.

"We knew from the start that the Causeway Capital team was a great investment partner for Whyte Bikes," said Whyte Bikes CEO Nikki Hawyes. "This new partnership is an exciting step forward, building on our 25-year history of producing high-quality bikes. We will enhance our product offerings, expand our global footprint, and invest in our brand. This will allow us to create even better experiences for our partners and riders worldwide. ...."

Whyte Bikes manufactures a wide range of models, including mountain bikes, e-MTBs, kids' mountain bikes, and commuter bikes since 1999.

"Whyte is a category-leading British brand built on design, engineering, and innovation," said Matt Scaife, Causeway Capital partner. "Wellness and outdoor recreation show strong long-term growth. The performance mountain bike market is accelerating, driven by technology innovation, and increasing participation among younger riders. We are delighted to use the first investment from Causeway Capital Partners II LP to back Nikki and the Whyte team."