Fenway Partners, a New York-based mid-market buy-out firm with $1.4bn (€1.15bn) under management, has invested $300m in two companies which make head protection gear and is expected to begin fund raising again shortly.

The acquisition of Bell Sports - helmet maker of record Tour de France cycling champion Lance Armstrong - for about $240m, will allow Fenway to merge it with Riddell Sports, which it bought in July 2003 for about $100m. The two have combined projected 2004 revenues of $300m.