Riverside acquires Bike24

Riverside stated it plans to expand the company internationally and to invest in the product portfolio.

This is not the first time private equity firms have targeted the cycling industry in the DACH region. In May 2014, Hannover Finanz acquired a majority stake in Austrian bicycle producer Simplon Fahhrad.

Debt
The deal was financed with a debt package provided by Berenberg Bank.

Company
Founded in 2005 by Andrés Martin-Birner, Falk Herrmann and Lars Witt, Bike24 sells bikes and accessories via its website. Around 80% of its sales come from bike-related accessories. The company generated revenues of €34m in 2012.

Headquartered in Dresden, Bike24 employs 190 people. It claims to have 195,000 customers.

People
Michael Weber is a partner at Riverside and worked on the deal alongside Sven-Hendrik Schulze, Matthias Fink, Simon Joha and Patrick Schaich.

Advisers
Equity – Aquin & Cie (Corporate finance); Roland Berger (Commercial due diligence); EY (Financial due diligence); Allen & Overy (Legal).
Company - Altium (Corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• DACH
• Buyouts
• Consumer
• Germany
• Riverside