• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Exits

Polo Motorrad sale faces headwinds despite pandemic boost

  • Johannes Koch and Gustav Hoejmark-Jensen
  • 10 June 2022
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Polo Motorrad's retail footprint and the seasonality associated with the motorbike accessory player's sales peaks may dampen enthusiasm among potential buyers, two sources familiar with the situation said.

This despite the Equistone-backed, German motorbike clothing, accessories, and parts specialist coming off a bumper year for earnings, benefiting from growth in its e-commerce division during the pandemic as motorbiking gained traction.

Polo Motorrad is being marketed off cEUR 20m EBITDA in the Baird-led sale, the sources said.

Equistone, which acquired the business in 2015, has done well to focus on online sales and boosted the channel in France and the UK, but it would be hard to inspire buyers for its brick-and-mortar retail stores in the German-speaking region, the first source noted.

Polo has more than 90 stores across Germany, Austria and Switzerland, with 65,000 products on offer for motorbike enthusiasts.

The retailer is still valued as a consumer goods company and at the whim of consumer discretionary spending, the second source noted.

It is a very seasonal business - weather-dependent, as bikers tend to hit the road in decent conditions - with inventories that require a fair amount of working capital, this source noted.

In FY20, which ended on 30 September 2021, the company generated EUR 128m of sales compared to FY19 sales of EUR 115m, according to publicly filed records. Polo had drawn down a EUR 21.5m working capital credit line, which was subsequently extended by a year, the records show.

Equistone acquired the business in 2015 from Paragon, which had pulled it out of insolvency, turned it around in three years and sold it on. Polo generated cEUR 12m of EBITDA at the time, as reported.

US-based Revzilla and fellow German player Louis Motorrad are key Polo Motorrad competitors, one of the sources noted, adding that the latter was acquired by Berkshire Hathaway [NYSE: BRK.A] in 2015 for around EUR 400m.

Equistone declined to comment. Baird did not respond to a request for comment.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Exits
  • DACH
  • Consumer
  • Germany
  • Equistone Partners Europe
  • Robert W. Baird

More on Exits

Public sector software
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • Exits
  • 04 September 2023
Lender taking the keys from a sponsor
Ares Management handed keys to two-thirds of UK sponsor’s portfolio

Lender provided GBP 500m for three of the GP's deals between 2016 and 2019, Debtwire reported

  • Financing
  • 30 August 2023
Luggage and airport services
Actera Group explores strategic options for Celebi Ground Handling

Several investors placed bids for the company in 2022 but mismatch in pricing didn't lead to a deal

  • Exits
  • 30 August 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013