Eggars, BPE to act on Evans cycles buyout

Cheltenham-based BPE and South East firm Thomas Eggar have won places on the private equity buyout of high street chain Evans Cycles.

Active Private Equity, advised by BPE, picked up a majority stake in the company in a deal thought to be worth around £35m.

Thomas Eggar represented the Smith Family, which has owned the cycle retailer for the past 50 years and retains a minority stake.

BPE corporate partner Paul Wakefield turned out for Active Private Equity, an investment vehicle run by former Goldman Sachs economist and BBC chairman Gavyn Davies.