By 1888, the company was making about three cycles a week and employed around half a dozen men It was one of 15 bicycle manufacturers based in Nottingham at that time.
Frank Bowden, a recent convert to cycling who on medical advice had toured extensively on a tricycle, first saw a Raleigh bicycle in a shop window in Queen Victoria Street, London, about the time that William Ellis's investment in the cycle workshop was beginning to take effect. Bowden described how this led to him visiting the Raleigh works:
'In the early part of 1887, while looking for a good specimen of the then new safety bicycle, I came across a Raleigh in London. Its patent changeable gear and other special features struck me as superior to all the others I had seen, and I purchased one upon which I toured extensively through France, Italy and England during 1887 and 1888. In the autumn of the latter year, happening to pass through Nottingham, and with the idea of, if possible, getting a still more up-to-date machine, I called upon Messrs. Woodhead and Angois, the originators and makers of the Raleigh'
It is clear from Frank Bowden's own account that, although he bought a Raleigh 'Safety' in 1887, he did not visit the Raleigh workshop until autumn 1888. That visit led to Bowden replacing Ellis as the partnership's principal investor, though Bowden did not become the outright owner of the firm. He concluded that the company had a profitable future if it promoted its innovative features, increased its output, cut its overhead costs and tailored its products to the individual tastes and preferences of its customers. He bought out William Ellis's share in the firm and was allotted 5,000 £1 shares, while Woodhead and Angois between them held another 5,000 shares. This the 'Raleigh' brand and the famous Heron headbadge came into existence.