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 has been news editor at road.cc since 2009, reporting on 10 editions and counting of pro cycling’s biggest races such as the Tour de France, stories on issues including infrastructure and campaigning, and interviewing some of the biggest names in cycling. A law and languages graduate, published translator and former retail analyst, his background has proved invaluable in reporting on issues as diverse as cycling-related court cases, anti-doping investigations, and the bike industry. He splits his time between London and Cambridge, and loves taking his miniature schnauzer Elodie on adventures in the basket of her Elephant Bike.