Riverside’s Latest Exit Pedals Full Speed Ahead
The Riverside Company, a global private investor focused on the smaller end of the middle market, has sold Y International, Japan’s leading high-end bike retail chain, to Daiwa PI Partners. Terms of the transaction were undisclosed.
Riverside invested in Y International in 2013. The company serves as an eCommerce and big box retailer of bikes, frames, components, maintenance and fitting services, accessories and apparel for high-end cycling enthusiasts including road bikers, triathletes and mountain bikers.
“We are proud of what we have accomplished with the Y International team, transitioning the organization from a traditional 100-year-old family-owned business to a fully professional management organization drawing on some of Japan’s best retail corporate executives from a variety of industries,” said Riverside Partner Stuart Baxter. “During our partnership, we built a highly successful eCommerce platform, introduced data-driven analytics and reporting, built a full back-office organization and installed a new Management Information System."
Riverside Vice President Hiro Wakashita felt Riverside could capitalize on the booming sports enthusiast biking segment while building on the century old Japan-based retailer. “We focused our efforts heavily on growth and are happy to say we expanded the geographies for store locations to several new key markets such as Kobe, Kyoto, Hiroshima, Fukuoka and Ehime,” said Wakashita.
Hiro partnered with Kaj Vestman, a Swedish based expert in sports bikes and sporting equipment while successfully executing the transformation.