TSG provides growth funding for Canyon Bicycles

Canyon plans to use the fresh capital to enter the US market, aiming to start business there in Q2 2017. Financial terms of the transaction were not disclosed.

San Francisco-based TSG manages $5bn in assets. It backs consumer and retail companies with revenues of $20m-1.5bn and invests between $15-500m. The GP previously backed brands such as Vitamin Water, Popchips and Smashbox Cosmetics.

TSG has also owned a majority stake in US outdoor retailer Backcountry since July 2015. The business accessed the European market via its acquisition of German online outdoor retailer Bergfreunde in 2013.

Company
Headquartered in Koblenz, Canyon Bicycles engineers, develops, designs and assembles bikes, bike parts, accessories and apparel. The business was founded in 1985 as Radsport Arnold, and has operated under the name Canyon Bicycles since 2001.

It notably sponsors and supplies equipment to professional cycling teams Movistar and Katusha.

Canyon had revenues of €160m in 2015.

People
TSG Consumer Partners – Blythe Jack (managing director).
Canyon Bicycles – Roman Arnold (founder, CEO).

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• Topics
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