Mishcon de Reya's Corporate department advised Boom Cycle, London's leading indoor cycling studio group, on an expansion capital investment round from a syndicate of growth capital investors.
Over the next few years, Boom Cycle is planning to expand rapidly from their first locations in Shoreditch and Holborn to multiple sites around London.
Scott Rudmann, Managing Partner of Nectar Capital, said: "We are delighted with the financing round for Boom Cycle, which provides capital for growth and new locations as Boom solidifies its position as the leader in the U.K. indoor cycling. Mishcon de Reya has been of great assistance throughout, providing solid macro and micro level legal advice and collaboration on structuring, and closing the transaction. Mishcon also serves as house lawyer, assisting Boom on commercial, real estate, and human resource matters. We're delighted to have capable legal partners who have been able to provide cost-effective legal services to this fast-growing company."
The Mishcon de Reya team was led by Corporate Partner Nadim Meer, with assistance from Associates Natasha Bassett and Louisa Cockburn.
Nadim Meer said: "The passionate entrepreneurs behind BOOM Cycle, a Leap 100 company, have built a fantastic business and brand. It is a privilege to help them tackle a range of business issues and to follow them closely on their trajectory of growth. Amid increasing consumer appetite for health and fitness we are seeing a hive of investment activity in the sector."