Hannover Finanz acquires Simplon Fahrrad

The investment will enable Simplon to capitalise on growth opportunities in the international bike market. The hitherto family-owned company is said to have looked for a suitable partner for long-term, sustainable development. Hannover invested via its Evergreen Fund, which typically has a holding period of 8-10 years.

Hannover stated that Simplon also chose the GP because it operates an Austrian office and therefore understands local family businesses.

The deal is subject to regulatory approval and should be completed by the end of Q2 2014.

Company
Founded in 1961 by former bicycle dealer Josef Hämmerle and his sons Kurt and Heinz, Simplon is active in Germany, Austria and Switzerland, and headquartered in Hard.

Simplon develops individually assembled sports bikes using carbon-fibre technology, producing 10,000 items in 2013. The company employs 45 people and saw revenues of €17.4m last year.

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