The company, which was founded in 1999, made its name as a mountain bike business producing trail bikes, but has since expanded to include gravel, commuter and youth models, and most recently e-bikes.
Cairngorm said its investment would allow Whyte to develop its product portfolio, including broadening its range of e-bikes.
The deal marks Cairngorm Capital’s 30th investment since 2016, as well as its entry into the bicycle sector.
Neil McGill, who led the investment for the firm, said, “Whyte is a superb business with exciting growth prospects and an exceptional management team.
“Our firm believes that the trend towards increased participation in cycling driven by changing lifestyles, environmental considerations and government policy support will endure over the long term.
“As a leading UK brand with a range of award-winning bikes, Whyte is well placed to benefit.”
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