The Riverside Company. announced the sale of Y International, a Japanese premium bicycle retail chain, to Tokyo-based private equity firm Daiwa PI Partners.
Terms of the contract are not disclosed.
Riverside in 2013 acquired the business, which serves as an e-commerce and big-box retailer of bikes, frames, components, maintenance and assembly services, accessories and clothing for high-end cycling enthusiasts.
“We are proud of what we have accomplished with the Y International team, transforming the organization from a traditional, century-old family business to a fully professional management organization backed by some of the best selling business leaders. Japan retail from various sectors. Riverside Partner Stuart Baxter said in a statement. complete back office and installed a new management information system. “
The company also expanded the geographies of store locations to several key new markets across Japan.
Riverside is a global private equity firm headquartered in Cleveland and New York that invests in growing companies valued at up to $ 400 million in the smaller segment of the mid-market.