Cyclescheme, which last year reported sales of £22.7 million was founded in 2005 and the Sunday Times, in its Fast Track 100 report last year, listed Cyclescheme as the number one fastest-growing private company in the UK.
Clients include Coca-Cola, Rolls Royce, Barclays, the BBC, central government, councils, NHS trusts, police authorities and half of the country's fire and rescue services.
Grass Roots offers a broad range of marketing, research and HR services on an international scale. In the UK, the group offers flexible benefits, total reward communication, childcare vouchers and its own cycle scheme, known as bike4work.
David Evans, Grass Roots' chairman and CEO, said: "I'm delighted that Richard and Gary [co-founders of Cyclescheme] have chosen to join the Grass Roots family. The strategic fit is excellent, but just as importantly there is a strong sense of shared values. They have immense passion for what they do and a great team of people that have followed their vision. This is a first-class business with great scope for future development. It's a hugely exciting moment for all of us."
Richard Grigsby, Cyclescheme's founder, added: The time was right to become part of a larger business, providing we could find one that shared a similar ethos. We have known Grass Roots since our conception and they know us, and our marketplace, very well. We feel very comfortable with our decision to join them and hugely optimistic for the future of our business."
Grass Roots managing director, Andy Lister, and head of employee benefits, Paul Bartlett, will join the Cyclescheme board. The business will remain in Bath with Richard Grigsby and co-founder Gary Cooper continuing as directors.
