Gleiss Lutz has been advising the US private equity fund TSG Consumer Partners on its acquisition of a significant minority interest in Canyon Bicycles. The agreement is expected to be closed within the first half of 2016.
Canyon develops and produces top-range racing bicycles, mountain bikes, triathlon bicycles as well as urban and fitness bikes, exclusively distributed via the www.canyon.com website. With its unique distribution model, the company has been growing rapidly for several years, and sponsors various racing teams both on and off the road, including the Movistar team – a worldwide leader – as well as Jan Frodeno, current triathlon world champion and Ironman winner. The partnership between Canyon and TSG will serve primarily to drive Canyon’s expansion on the US market and further expand Canyon’s global business.
TSG Consumer Partners is a US private equity fund that focuses on investing growth capital in companies on the consumer goods market. Currently, TSG Consumer Partners manages four funds with total assets of USD 5 billion. TSG Consumer Partners’ stake in Canyon Bicycles represents its first investment in Europe.
TSG Consumer Partners was advised by the following Gleiss Lutz team: Dr. Jan Bauer (partner), Dr. Rüdiger Schmidt-Bendun (both lead), Andreas Knossalla, Vanessa Carduck (all corporate/M&A), Dr. Doris-Maria Schuster (partner), Christian Mathias (both employment), Patrick Steinhausen (banking and finance) (all Frankfurt), Dr. Alexander Molle (counsel), Dr. Hannah Bug, Matthias Schilde (all Berlin), Dr. Manuel Klar (Stuttgart) (all IP/IT), Dr. Stefan Mayer (partner, Frankfurt), Dr. Michael Rudolf (Stuttgart) (both tax), Dr. Jacob von Andreae (partner, public law, Düsseldorf), Dr. Wolfgang Bosch (partner, Frankfurt), Dr. Christian von Köckritz (counsel, Brussels) (both competition/antitrust), Dr. Tim Weber (partner) und Svenja Bender (both real estate, Frankfurt).
Gleiss Lutz regularly advises domestic and international private equity firms on investing in promising companies, including in the venture capital sector.
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