Frankfurt / Oberwangen, May 21, 2021 – Naxicap Partners, a leading European private equity firm, has reached an agreement to acquire LEVA-EU member Stromer, the Swiss-based speed pedelec manufacturer. Details of the agreement were not disclosed. The transaction is subject to customary approvals.
Founded in 2009, today Stromer is the leading manufacturer of premium speed pedelecs in Europe and the United States, with a market share of over 20 percent in each country. The company is headquartered in Oberwangen near Bern and manufactures all its products in Switzerland.
Stromer strives to provide the best and most sustainable mobility solution for commuters while offering a unique riding experience. The company employs around 140 people and currently has around 90,000 customers. It also has a rapidly growing social media community with over 45,000 followers. Over 50,000 speed pedelecs are registered through the Stromer OMNI app, which serves as a digital vehicle key and compiles driving statistics.
The transaction comes at a time when the mobility industry faces major changes. At the same time, the Covid-19 pandemic has impacted global mobility behaviour and as a result individual transport has become more important for many people. Thus, with its speed pedelecs, Stromer is benefiting from various important mobility and technology trends – from sustainability to urban mobility and cloud connectivity.
Naxicap Partners will support the company in further expanding its leading market position, helping it to realise its full potential. 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 strong brand will be used to establish new product innovations.
Jakob Luksch, CEO of Stromer, says: “Over the last three years, we have created the infrastructure to rapidly andconsistently scaleour business model. In Naxicap Partners we have found apartner 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, says: “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.”