Canyon Bicycles Attracts Strategic Investment from LRMR Ventures and SC Holdings
Canyon Bicycles GmbH has secured a strategic equity investment led by LRMR Ventures, associated with LeBron James, and SC Holdings, a private equity firm. This investment aims to bolster Canyon's growth in the US market and e-bike segment, joining existing stakeholders like Groupe Bruxelles Lambert (GBL).
CEO Roman Arnold noted that the new investors share Canyon's vision for innovation. Canyon plans to enhance brand engagement and online shopping experiences to capitalize on health and sustainability trends.
- Strategic equity investment from LRMR Ventures and SC Holdings to support US growth.
- Expansion into the e-bike market and enhanced brand engagement planned.
- Existing strong backing from Groupe Bruxelles Lambert (GBL) and founder Roman Arnold.
- None.
The strategic investments of LRMR Ventures and SC Holdings, as well as the appointment of Robert Kyncl as Board Director, will help expand Canyon's US presence
KOBLENZ, Germany, July 29, 2022 /PRNewswire/ -- Canyon Bicycles GmbH ("Canyon"), world-leading direct-to-consumer manufacturer of premium bikes in Koblenz, Germany, announces a strategic equity investment led by LRMR Ventures, the family office of global icon LeBron James and Maverick Carter, and SC Holdings, a US-based private equity firm focused on market-leading brands.
As bike enthusiasts and fans of the Canyon brand, the new investors will join the company's existing shareholders, including majority holder Groupe Bruxelles Lambert ("GBL") and the company's founder, Roman Arnold, to support Canyon's ambitious US growth plans.
Roman Arnold said: "While we were not actively looking for new investors, LRMR and the SC team immediately understood our mission to build the world's most inspiring and innovative bike company. Their passion for what we are building will make them instrumental members of our team."
Canyon will work with LRMR and SC to increase engagement in the US and in the e-bike category, elevate global brand awareness and deliver the best online shopping experience.
"As an avid cyclist and storyteller, I'm excited about partnering with Canyon," said Maverick Carter. "The quality of the products, the power of the Canyon brand, and the unique distribution model create a lot of compelling opportunities we want to be a part of."
Canyon is at the crossroads of many societal tailwinds, including health and wellness, sustainable mobility and online distribution. It continues to expand its international footprint and trajectory as a leader in innovation, technology and performance in the bicycle industry. The company is a category leader in all competitive and recreational road, gravel, mountain and urban cycling disciplines. At the same time, Canyon is focusing on new growth areas through the expansion of its service offering and further developments in the field of e-bikes, urban bikes and connectivity.
SC Holdings founder/Managing Partner Jason Stein added: "Canyon has been a leader in cycling and a pioneer in direct-to-consumer e-commerce for over 20 years. From professionals on tour to everyday riders on streets and trails around the world, Canyon's impact on sports and culture is seen everywhere. We are honored to partner with Canyon, GBL and LRMR, and excited to help capture the growth opportunity in the US."
Working with professional teams and superstars such as Mathieu van der Poel, Jan Frodeno and Fabio Wibmer, Canyon develops cutting-edge performance technologies for the highest level of the sport and integrates them into bikes for general consumers. The company is committed to supporting grassroots athletes and stimulating new riding communities.
In parallel, Canyon is further strengthening its digital capabilities by appointing Robert Kyncl, Chief Business Officer at YouTube, as a board member.
Baird acted as Financial Advisor in this transaction.
/ ENDS
A selection of rights-free images are available at this link: https://assets.canyon.com/share/56FE0F2B-D00D-489C-B50A6E4B773438B3/
Canyon is one of the most inspirational and innovative bike brands in the world. Starting life in the garage of our founder Roman Arnold, Canyon has evolved to become the world's largest direct to customer manufacturer of road, mountain, triathlon, and urban bikes.
We work hand-in-hand with some of the finest athletes on the planet, earning a reputation for building bikes with cutting edge materials and technology around a refined, distinctive and intelligent design. Canyon is audacious, competitive and driven to continuously optimize performance.
Yet Canyon is also committed to opening up and growing the global cycling community. The company mission « Inspire to Ride » reflects how the brand strives to promote the power of the ride to all.
Canyon takes seriously its commitment to the planet, with an immediate focus on reducing our footprint and responsible sourcing.
Canyon products are exclusively available online at www.canyon.com
Groupe Bruxelles Lambert ("GBL") is an established investment holding company, with over sixty years of stock exchange listing and a net asset value of EUR 21.3 billion at the end of March 2022. GBL is a leading investor in Europe, focused on long-term value creation and relying on a stable and supportive family shareholder base. GBL is both a responsible company and investor and perceives ESG factors as being inextricably linked to value creation.
GBL strives to maintain a diversified high-quality portfolio of listed and private assets as well as alternative investments (through Sienna, the group's alternative investment platform), composed of global companies that are leaders in their sector, to which it can contribute to value creation by being an active professional investor.
GBL is focused on delivering meaningful growth by providing attractive returns to its shareholders through a combination of growth in its net asset value, a sustainable dividend and share buybacks.
GBL is listed on Euronext Brussels (Ticker: GBLB BB; ISIN code: BE0003797140) and is included in the BEL20 index. www.gbl.be
Based in Akron, Ohio, LRMR Ventures is the home office of LeBron James and Maverick Carter that manages their expanding portfolio of global projects, partnerships, investments, and other business ventures. Established in 2006, LRMR facilitates all facets of business from branding, marketing and communications to human resources, finance, and other backend services for its internal companies.
SC Holdings is a private equity and strategic advisory firm with global experience building businesses and executing transactions. Led by entrepreneurs, SC brings an operator driven approach to partnerships and prides itself on contributing real value to portfolio companies.
Ben Hillsdon, Global Communications Manager. T +31 (0) 619 557 114. Email: bhillsdon@canyon.com
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SOURCE Canyon Bicycles
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