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» KKR, Carlyle among those looking at buying Canyon
2020-11-24
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KKR, Carlyle among those looking at buying Canyon
2020-11-24
source own
KKR & Co. and Carlyle Group is one of many equity firms having a keen interest in Brand Canyon Bicycles, a German bike company according to Bloomberg’s report based upon an anonyms source. One division of KKR, has reportedly made an investment of $450 million to develop an indoor cycling app called Zwift.
Canyon stated that one of their primary investors, TSG Consumer Partners LLC would be leaving the company and that Canyon are on the lookout for alternative partners for recapitalization.As stated in the Bloomberg report, “Canyon has gained the attention of several buyout firms such as Advent International, Apax Partners, General Atlantic and Permira.". These sources also confirmed that Canyon may sell in excess of 500 million euros ($592 million).
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