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It is now well established that the bike industry is continually growing: the Accell group recorded an increase in sales of the 17% in 2020 to 1.3 billion euros and strong growth in sales of ebikes as a means of daily transport.
Accell also said that 2021 sales through November increased by 4.4% %, despite the difficulty in sourcing raw materials.
Investment funds led by Kohlberg Kravis Roberts & Co. LP (KKR), including Teslin Alpine Acquisition, have acquired Accell Group, which includes major brands such as Haibike, Winora and Ghost.
According to the press release: “KKR fully supports the group's commercial ambitions and strategy, which includes a commitment to launching new green mobility innovations among its environmental, social and governance objectives. It has a strong global track record of investing in the consumer sector, including in mobility, and a strong presence in the Netherlands. KKR will also provide expertise and resources to accelerate the growth and launch of the group's business strategy, including potential acquisitions.”
The current board of directors of Accel Group, consisting of CEO Tony Anbeek, CFO Ruben Baldew and, from 1 February 2022, CSCO Francesca Gamboni, will continue to lead the Group and have unanimously supported the transaction by recommending the offer .
Rob ter Haar, President of the Supervisory Board of the Accel Group, in fact, declared: “We believe it will drive the sustainable success of the Accell Group. In the long term, this will enable Accell Group to grow its business in an accelerated timeframe and strengthen its position as a major player in the global bicycle market, against the backdrop of continued supply chain volatility and a dynamic global environment full of challenges and opportunities.”
“This new shareholder will bring a financially strong and competent partner to accelerate the launch of our existing strategic roadmap, enhance our global footprint, explore suitable acquisitions and further leverage our scale. – He added Tony Anbeek, CEO of Accell Group – We continuously strive to be a leader in the bicycle industry by combining intelligent design and innovative technology with the best value and customer experience. With the entry of KKR as a majority shareholder and with the continued support of Teslin, we would be able to accelerate the execution of our strategic agenda, launch new green mobility innovations and support for the benefit of people and communities.”
In the end, Tim Franks, partner and head of EMEA consumer at KKR, added: “We believe that the bicycle and eBike sector will play an increasingly important role in addressing some of the major challenges the world is undertaking today, whether it is climate change, urban mobility or personal health. The bicycle operating environment is increasingly demanding and complex from the perspective of consumer experience, supply chain and digital capability”.