Online bikes retailer Wiggle has hired advisory firm Rothschild to oversee a strategic review which could result in a sale or IPO valuing it at more than £200m, according to reports.

Isis Equity Partners has had a majority share holding in Wiggle since 2006. It is gearing up to sell its stake in the next 12 months, according to Sky News.

Wiggle has gone from strength to strength in recent years, and appointed former Asda boss Andy Bond as a non executive last year, as revealed by Retail Week.

Interest in the retailer is thought to be high. It is understood that Halfords cast its slide rule over the business last year but did not pursue an acquisition.

Isis and Wiggle did not return calls.