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Canyon set for €500m+ private equity sale?

Private equity giants KKR and Carlyle said to be among suitors for German direct-to-consumer brand

Canyon, the direct-to-consumer bike brand whose latest Aeroad model was ridden to victory at the Tour of Flanders last Sunday by Mathieu van der Poel, is in the sights of private equity investors for a potential sale worth €500 million-plus, according to Bloomberg.

Suitors for the Koblenz, Germany-based business are said to include US-based private equity giants KKR & Co and Carlyle Group, as well as Advent International, Apax Partners, General Atlantic and Permira.

The bike brand is reported to have appointed the investment bank Robert W. Baird & Co on a potential sale of the business, although discussions with interested parties are ongoing with no final agreements reached as yet.

Interest in the business is said to have been sparked by the growth in cycling in urban areas in Europe since the COVID-19 crisis started earlier this year.

However, the bicycle sector, particularly at the high end, has proved attractive to investors in rece t years.

Italian brands Pinarello and Colnago have both been sold to private equity firms, while Rapha is now majority owned by an investment firm owned by two of the heirs to the Wal-Mart grocery fortune.

Simon joined as news editor in 2009 and is now the site’s community editor, acting as a link between the team producing the content and our readers. A law and languages graduate, published translator and former retail analyst, he has reported on issues as diverse as cycling-related court cases, anti-doping investigations, the latest developments in the bike industry and the sport’s biggest races. Now back in London full-time after 15 years living in Oxford and Cambridge, he loves cycling along the Thames but misses having his former riding buddy, Elodie the miniature schnauzer, in the basket in front of him.

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