- Staffordshire-based Broxap buy former start-up for an undisclosed fee
- Turvec clients included Google, the MoD and Lloyds Banking Group
London-based cycle storage solutions company Turvec has been bought by UK street furniture specialists Broxap.
Staffordshire-based Broxap, which has bought Turvec for an undisclosed sum, will continue to utilise Turvec’s existing team and expertise to leverage its market share of the cycle storage sector.
Turvec, which was co-founded by George Hosegood, capitalised on the shift to two-wheel travel and supplies a range of ‘end-of-trip’ solutions including bike racks, bike shelters and bike repair stations.
Over the past decade Turvec has primarily partnered with construction companies to provide cycle storage products. It has also supplied and installed cycle equipment to local authorities, education establishments and companies including Google, the Ministry of Defence and Lloyds Banking Group.
After a decade at the helm, Hosegood said it was the perfect time to sell Turvec.
“I was approached by Broxap in the summer of 2024 about a potential partnership,” he said.
“However, as talks progressed this became about a potential sale. I did think about whether to continue with the business or sell to Broxap.
“We had further discussions and after much consideration, I decided that now was the ideal time to sell the business.”
Broxap managing director John Boyle explained the purchase would enable the company to improve customer experiences further through reduced lead times.
The acquisition is also expected to create new opportunities for growth, delivering enhanced services and solutions, while consolidating Broxap’s position as the UK’s leading manufacturer and supplier of sustainable street furniture.
Boyle said: “We already offer a full geographical service throughout the UK, from our Staffordshire manufacturing base. Turvec’s market position, London location and its talented team, perfectly complements Broxap’s offering and its comprehensive product portfolio. We’re delighted to welcome the Turvec team into the Broxap family.”