Bregal Milestone to wholly acquire Greenstorm

Bregal Milestone acquired a minority stake in Greenstorm in December 2018. Bregal's Milestone fund deploys equity tickets of €20-60m, providing growth capital, debt and structured equity, although the vehicle can also make buyout deals. The €400m fund held a final close in July 2018.

Trade publication Bike.eu reported in September 2020 that Carsten Greiner had joined the company as chief commercial officer and was to take over as CEO from January 2021, while current CEO Rixhard Hirschhuber is to take a role on the company's supervisory board. The report also stated that the company had experienced supply issues in the delivery of its bikes during the coronavirus pandemic and that it intends to focus on its core business in future, including halting expansion plans beyond the DACH region.

Bregal Milestone could not be reached for comment at the time of publication.

Company
Greenstorm was founded in 2009 and is based in Kufstein. The company sells and leases new and used e-bikes via its website and local e-bike dealers in the DACH region, as well as in Italy, Slovenia and Croatia. Its customers include both private individuals and businesses, including hotels and entrepreneurs who wish to provide their employees with e-bikes. The business generated revenues of €11.2m in 2017 and €24m in 2018. It has 32 staff, according to LinkedIn.

People
Bregal Milestone – Jan Bruennler (managing partner).
Greenstorm – Richard Hirschhuber (CEO).

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• Topics
• Buyouts
• DACH
• Consumer
• Austria
• Bregal Capital