After intensive conversations with potential investors, the founder of the company Roman Arnod has chosen Groupe Bruxelles Lambert (GBL) to be the partners of the world's leading bicycle direct sales company.
In partnership with GBL, Canyon hopes to accelerate the high level of expertise in innovation, technology leadership and customer service proposition. In addition, emphasis will be placed on the development of new sustainable mobility concepts.
GBL is one of the largest investment companies in Europe
Headquartered in Brussels, GBL is one of the largest investment firms in Europe and brings its brand, sports and lifestyle expertise, demonstrated through its investment in Adidas, where it is the largest shareholder.
From a small garage in Koblenz to being a world leader, Canyon's history is one of continued success. Over the past seven years, the average growth for the Germany-based business has been 25 percent.
In fiscal 2020, sales exceeded € 400 million for the first time, driven by Canyon's strong product portfolio, technology and development expertise, as well as continued expansion into the US market.
With exceptional performance in the areas of road, mountain bike and gravity, as well as urban and fitness bikes, Canyon has now developed a comprehensive catalog of electric bikes across the range.
The company has reached a scale where it needs strong partners for further growth and innovation.
After a successful cooperation with the American company TSG Consumer Partners, reaching an agreed conclusion in 2020, Canyon and Roman Arnold's task was to find an equally suitable new partner. «We have become a global digital champion through consistent success.
Through technology, global expansion and sporting success, we have achieved a lot. Now is the right time to continue on the offensive, to take advantage of all the opportunities, which are many.
That is why I am very happy to partner with GBL, who have convinced my team and me with their passion for our business, their years of experience and their long-term focus.«Said the founder and president of the Advisory Council.
GBL CEO Ian Gallienne is equally excited about the new partnership, «Canyon has an incredible track record, a strong team, and great potential.
We are excited to partner with Roman Arnold and the Canyon team. Together we want to take this success story to the next level«.
In addition to GBL as the majority shareholder, Roman Arnold remains the largest individual shareholder of Canyon Bicycles GmbH with 40 percent of the shares. As a co-investor with GBL, Tony Fadell, former senior vice president of Apple's iPod division and also a passionate cyclist, joins Canyon with the support of his entire team.
With his company and the Future Shape team, which focuses on sustainability, he supports companies to take innovative digital technologies out of the laboratory and apply them to everyday use. «Roman and his team have built an incredible business over the past 20 years.
We are honored to help drive an inspiring brand like Canyon to meet the growing interest in bikes, from trails to commuting, while leaving cars parked.Fadell said.
Blythe Jack, CEO of TSG Consumer Partners, added: “EWe are incredibly grateful for the extraordinary partnership we have enjoyed over the past five years with Roman Arnold and the Canyon team, and we are extremely proud of the many accomplishments we have made together during a period of significant growth. We see a bright future ahead for Canyon and look forward to seeing your continued success with GBL. «.
Investment bank Robert W. Baird & Co. Incorporated (Baird) acted as Canyon's exclusive financial advisor in the search for investors. The operation is expected to be completed during the first quarter of 2021, once the necessary regulatory approvals have been obtained.