Stromer sold to private equity firm Naxicap Partners

Stromer has been sold to France-based private equity firm Naxicap Partners, with GCA Altium acting as exclusive financial advisor to the shareholders.

Founded in 2009, Stromer is a manufacturer of premium speed pedelecs in Europe and the United States, with a market share of over 20% in each country. The company is headquartered in Oberwangen near Bern and manufactures all its products in Switzerland. It employs around 140 people and currently has around 90,000 customers.

Naxicap Partners will support the company in further expanding its market position. The focus will be on the company’s internationalisation and expansion in central Europe, the development of new sales channels and the scaling of marketing activities. At the same time, the brand will be used to establish new product innovations.

“Over the last three years, we have created the infrastructure to rapidly and consistently scale our business model,” said Jakob Luksch, CEO of Stromer. “In Naxicap Partners, we have found a partner who not only shares our passion for premium products but will also add significant value with their network and expertise in our core market Europe.”

Peter Pergovacz, managing partner of Naxicap Partners in Germany, added: “I am equally impressed by the technology as with the achievements Jakob Luksch and his team have reached over the past years. As a European investor with a clear focus on growth, we look forward to working together to further develop the Stromer brand and to continue its recent successful path.

“Our goal is to set the course for further strong growth in existing markets while also facilitating the expansion into additional markets. We particularly look forward to supporting Stromer in launching new innovative premium products.

“That said, the company’s core values of Swissness, enthusiasm and partnership will always be the main focus. The acquisition is a prime example of our investment approach, which is dedicated to long-term value creation and sustainable growth.”

Details of the agreement were not disclosed, and the transaction is subject to customary approvals.

Read the May issue of BikeBiz below: