IMPROVED advises Velosophy on its sale to Accell Group
- Date July 13th, 2018
- Transaction type M&A
- Sector Mobility
- Sub Sector Urban Transportation
Accell Group (i.a. Batavus, Sparta, Koga), the European leader in bicycles and bicycle parts acquires Velosophy, holding company of Babboe, Centaur Cargo, and Carqon. IMPROVED acted as the exclusive advisor to Velosophy’s shareholders in this transaction.
Founded in 2005 and currently active in 22 countries, Babboe established a widely recognised bicycle brand, which stands for quality, innovation and affordable cargo bikes. To also serve the high-end market, CarQon will introduce a premium e-cargo bike later this year. In a rapidly growing urban transportation market, Centaur Cargo is serving the B2B market by running pilots with several large e-commerce players. The 14% indirect shareholding of Accell in Carver remains unaffected by the transaction.
Accell, as a partner for further international growth, has profound knowledge of the global bicycle industry and developed a good understanding of the business through its role as minority shareholder. After the acquisition by Accell, the mission of Velosophy remains unchanged: offering high quality, safe, sustainable, and affordable cargo bikes. Within the new structure, Velosophy will be responsible for the additional development of new urban mobility solutions.”
“We are very pleased to intensify our collaboration with Accell, enabling us to continue growth and develop innovated urban mobility solutions ... In a rapidly changing landscape, it is key to act fast and gain a prominent position. We are excited to contribute to the renewed strategy of Accell Group. The combination of Accell and Velosophy will ensure a leading position in a rapidly changing urban mobility landscape."
“Combining the resources and industry expertise of Accell with the innovation capacity of Velosophy, creates a unique opportunity to become the leader in urban mobility solutions while continuing the incredible growth, which Velosophy has shown over the past few years ... IMPROVED has further built on the extensive in depth knowledge in the mobility sector, and proven to successfully advise firms in M&A transactions.”
Managing Partner, IMPROVED