OC&C advises Bridgepoint on sale of Bike24

05 November 2019 Consultancy.uk 2 min. read

UK-based private equity firm Bridgepoint Capital has opted to exit from its investment in German bicycle retailer Bike24, with support from OC&C Strategy Consultants. The news sees The Riverside Company acquire Bike24, just two years after selling it to Bridgepoint in the first place.

Founded in 2002, Bike24 is a Dresden-headquartered sports retailer specialising in bicycle-related products. Until recently, the company was owned by Bridgepoint Capital – a pan-European private equity investor focused on acquiring leading middle market businesses valued up to €1 billion.

Bridgepoint acquired Bike24 in October 2017 when its portfolio company – WiggleCRC – agreed to purchase the cycle-ware firm from The Riverside Company in a deal advised upon by GCA Altium, Allen & Overy and EY. Now, two years on, Riverside has opted to reverse the deal, buying back Bike24.

OC&C advises Bridgepoint on sale of Bike24

Bike24 has become one of the leading German online retailers for cycling, running, swimming, triathlon, fitness, outdoor and related products in recent times, attracting Riverside’s attention and subsequent reinvestment. Completion of the transaction is subject to clearance by the competent antitrust authorities.

M&A experts from consulting firm OC&C Strategy Consultants supported Bridgepoint through vendor due diligence and business planning support, working closely with the management team at Bike24. The transaction saw the firm build on its extensive experience in the sports and outdoor sector, and within cycling. The OC&C team involved was led by partners Tom Charlick, Alex Birch and Tom Gladstone.

A statement from OC&C read, “We congratulate Bridgepoint on the successful sale of Bike24 to The Riverside Company. Bike24 is a leading online cycling retailer, offering components, apparel, and related equipment to consumers in Germany and across Europe.”

Allen & Overy also advised UK-based private equity firm Bridgepoint, as well as the management on the sale of Bike24 to a subsidiary of Riverside. The law firm's team was led by Astrid Krüger with counsel from Roman Kasten, both of whom specialise in corporate/M&A and private equity work.