SWIEBODZIN, Poland - Sprick, a long-standing name in the German Bicycle sector, has entered a new chapter. After financial difficulties led to insolvency of the bicycle assembler at the start of this year, the company is now set to become part of multinational, Singapore-based DuTech Group.
PARIS, France - Bike-leasing company Vapaus Group has announced the integration of France's Azfalte, a corporate cycling company boasting a 250-client portfolio. Calling France "Europe's strongest growth potential," Vapaus Group says it's excited to explore international growth with Azfalte, hoping to achieve one million new riders in the coming years.
BRUSSELS, Belgium - The European bicycle industry is losing a key face in Brussels. Manuel Marsilio has officially stepped down from his position as general manager of the Confederation of the European Bicycle Industry (CONEBI). This marks the end of more than a decade of leadership. Meanwhile, the ECF has welcomed its new CEO, who is tasked with advocating for better cycling infrastructure across Europe.
BERLIN, Germany - Brose SE has completed the transfer of its e-bike drive business to Yamaha Motor Co., Ltd. For the Japanese company, this acquisition is part of its efforts to establish a strong position for competitiveness and achieve the business growth outlined in its management plan. Yamaha paid approximately €30.6 million in cash for the e-bike operation.
GENEVA, Switzerland - The globally operating testing, inspection and certification company SGS announced its expansion in the bicycle and e-bike sector with the takeover of EFBE Prüftechnik GmbH and EFBE Co., Ltd. EFBE was the tenth takeover in line since January this year for SGS.
LONDON, UK - British mobility insurance firm Laka has secured $10.4 million (€8.9 million) in a Series B funding round, it announced this week. The move strengthens the company's goal to lead the green mobility insurance market for e-bikes, e-scooters and sustainable transport across nine European Union markets and the United Kingdom. The round was co-led by Shift4Good and MS&AD Ventures, with participation from existing backers including Ponooc and Porsche Ventures.
