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May 14, 2021
A world-beating, British designed road bicycle is now ready for market following a successful equity investment round guided by Mincoffs Solicitors and RMT Accountants and Business Advisors.
North East based Vielo Sports Ltd has secured equity funding from a group of worldwide investors (including, Ian Watson, chairman of Hadrian Healthcare) to launch the new R+1 road bike, which has been designed at Vielo Sports’ Gateshead headquarters and builds upon the success of its predecessor, the V+1 gravel bike. The new R+1 model is made for British riding conditions and has already received positive reviews in the cycling industry press.
A team of specialists from the Corporate Team at Mincoffs Solicitors, led by Associate Solicitor Chris Hughes, provided legal support to Vielo Sports and its founders on the investment with accountancy and corporate finance advice being provided by a team from RMT Accountants and Business Advisors led by Head of Corporate Finance, Michael Cantwell.
“It was a pleasure to act for Ian, Trevor and the Vielo team on this investment round,” commented Chris Hughes from Mincoffs, “their passion for their products is clear and is definitely a factor in successfully sourcing their investors. We wish them luck with the launch of the R+1 and look forward to working with them again.”
Michael Cantwell, Head of Corporate Finance at RMT Accountants, adds: “Vielo has set the standard for British designed Road and Gravel bikes specifically designed for the UK. It has been rewarding to assist the Company secure the funding that will allow Vielo to accelerate its growth strategy. We look forward to continue working with Ian and Trevor as they continue their global expansion.”
Ian Hughes of Vielo Sports Ltd commented: “We’re delighted to have completed on this round of investment with the valuable assistance of Chris and Michael. As a young independent company their guidance and professionalism proved to be incredibly valuable.”