Business

Partnerships, acquisitions and investment news throughout the cycling industry

havebike launches first round of public investment as it begins UK expansion

havebike has launched its first round of public investment as it begins expansion across the UK. The London-based business is inviting the cycling community and the wider public to join it on its journey, seeking upwards of £500,000, having already raised over 80% of the target amount. With a pre-investment …

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Stromer sold to private equity firm Naxicap Partners

Stromer has been sold to France-based private equity firm Naxicap Partners, with GCA Altium acting as exclusive financial advisor to the shareholders. Founded in 2009, Stromer is a manufacturer of premium speed pedelecs in Europe and the United States, with a market share of over 20% in each country. The …

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Wise Equity acquires 33% share of Selle Royal

Wise Equity has acquired 33% of Selle Royal’s share capital. Selle Royal expects to close its fiscal year ended 30th June 2021 with consolidated revenues of over €190 million – a growth rate of 50% versus the prior year. Barbara Bigolin, Selle Royal’s chairwoman, CEO, and reference shareholder, said: “In …

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German bike manufacturer Derby Cycle becomes Kalkhoff

German bicycle manufacturer Derby Cycle is to be renamed Kalkhoff. “The realignment is intended to help combine the strong German Kalkhoff brand, with its more than 100-year Kalkhoff history, during which Heinrich Kalkhoff laid the foundation for the company’s current success at the Cloppenburg site, with a future-proof positioning of …

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Velotech Services to distribute accessory brand CloseTheGap

Velotech Services has acquired the distribution rights to Dutch brand CloseTheGap. After seven years as editor of Fiets, Mathijs Wagenaar founded CloseTheGap in 2015 with the HideMyBell. The brand now offers additional functional and minimalistic accessories and is also a sponsor of World Tour Team Jumbo Visma. Robin Corder, CEO …

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Hotlines adds USWE backpacks to portfolio

Hotlines has added USWE to its portfolio. USWE, pronounced “you-swii”, makes bounce free action backpacks and recently launched two new running vests. “The Pace 2 and 8 are a completely new development for our running vests,” said Karl-Johan Engdahl, USWE founder. “These are lighter, improved size range, more ergonomic, and …

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BikeTrax for Yamaha is now available

BikeTrax for Yamaha is now available at all BikeTrax dealers and in the PowUnity online store. BikeTrax for Yamaha engines can be retrofitted directly by end customers. With the help of the enclosed step-by-step instructions, the GPS tracker installed is ‘invisible’ to thieves from the outside. The BikeTrax theft protection …

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Pure Electric opens new Plymouth showroom and service centre

Pure Electric has opened its new Plymouth showroom next to the Drake Circus Shopping Centre. The new showroom, which creates five new jobs in the local area, is located on the Charles Cross roundabout. Experts will be on-hand to offer advice to visitors interested in adopting electric transport technology, while …

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TSG to sell stake in Nuun to Nestlé Health Science

Private equity firm TSG Consumer Partners is to sell its stake in Nuun Hydration to Nestlé Health Science. “Over the past few years, our partnership with TSG has helped accelerate our mission to enhance the lives of millions of consumers who increasingly seek healthy fitness solutions,” said Kevin Rutherford, CEO of …

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IBDs offering retail finance set to save time and money with new ACT initiative

ACT members will be able to save time and money when offering retail finance with the new Retail Finance Appointed Representative initiative, meaning they get the benefits of offering regulated finance with no Financial Conduct Authority (FCA) involvement. Over the past year, retail finance has played a key role in …

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