US-based RZC Investments has acquired a majority interest in the UK's cycling apparel retailer and brand Rapha.
Launched in 2004 by Simon Mottram and Active Partners, Rapha manufactures and distributes cycling clothing and accessories.
The company employs a direct-to-consumer business model, operating through 20 local websites and shipping to more than 100 countries.
It has a global network of 17 Rapha Clubhouses and plans to open seven new stores by the end of this year.
Rapha founder and chief executive Simon Mottram said: "The arrival of RZC Investments as a shareholder means we can pursue our mission to elevate cycling as a global sport and recruit more participants by engaging them and enabling them to ride with us at all levels.
“Support from RZC Investments will allow us to further expand our active global community of cyclists, develop even better and more innovative products and services to enhance cyclists' lives, and inspire many more people to take up the world's greatest sport."
Through the acquisition, RZC will carry forward Rapha’s strategy to expand its global footprint and consolidate its market position with the launch of Clubhouse network, membership club, and an array of products and services.
Having retained a portion of his stake in the company, Mottram will continue to function in his role as chief executive after the acquisition.