LONDON, UK - The British BGF investment fund has taken a minority stake to support Brompton's ambition to expand on international markets. Brompton Bikes confirmed to Sky News and RetailWeek a £19 million (€21.8 million) equity raise to fund the expansion.
TAIPEI, Taiwan - A proposed investment in Stages Cycling by Giant has stalled. "The company and counterparties were unable to reach a mutual consensus on the terms of the definitive agreements," a statement announced.
TAICHUNG, Taiwan - Inventory reductions in the European and North American markets as well as the higher year-on-year comparison base, have had a direct impact on Giant Group's first quarter sales. The Taiwanese company has reported a 9.6% sales drop in Q1.
SCHRAMBERG, Germany - According to precision gearbox manufacturer hGears AG, its first quarter 2023 results are in line with expectations. The strong performance of the premium, luxury and sports car segments was not able to compensate for the decline of the two other business segments e-mobility and e-tools - but at least cushioned it.
It was early 2008, just before the financial crisis, that Franky Vanlerberghe, an electronics man in heart in soul, saw a market for a niche player in the distribution of connectors and cable harnesses. He decided to take his chances from an attic in a small village in Belgium. First on his own and then a year later his former colleague and brother-in-law Maarten Voermans joined and the birth of the private company A&C Solutions was a fact.
MUNICH, Germany - Bikesale Solutions GmbH, Germany's 'first professional online bicycle market-place for used bicycles' asked for insolvency on March 29th. The appointed administrator is now looking for an investor for the ailing bicycle refurbisher.
OSAKA, Japan - The forecasted slowdown in bicycle component sales for Shimano was less strong than expected. For the first quarter of 2023 the Japanese manufacturer reports a net sales decrease of 12.5% from the same period of the previous year to JPY 126,071 million (€ 856 million).
MONTIGNY-LE-BRETONNEUX, France - Alltricks, the omni-channel pure-player, has reported a turnover of €219 million in 2022. This represents a 30% increase compared to 2021. This figure includes the activity of Troc Vélo, the first specialised second-hand site that Alltricks acquired in March 2021. Last year, this company has recorded a 65% growth in active classifieds, generating a volume of transactions between individuals of €49 million.
MUTLANGEN, Germany - The challenging market situation became too much for Advanced Sports GmbH. According to an announcement of the responsible district court Aalen in Germany, Advanced Sports GmbH filed for insolvency in self-administration as of 3 April 2023. The company is the European distributor for the bicycle brands Fuji, Breezer and SE Bikes and sells to more than 30 countries.
AMSTERDAM, The Netherlands - 2022 was a historic year for Pon Holdings with sales exceeding €10 billion for the first time in the company's history. The bicycle cluster, Pon.Bike contributed significantly to this following the acquisition of Dorel Sports and the ever-increasing demand for e-bikes. CEO Janus Smalbraak also states that order books are currently full.
