#DERBY CYCLE

Pon Holding Germany GmbH, Kerpen, submitted a voluntary public takeover offer to all shareholders of the SDax listed Derby Cycle AG, Cloppenburg. Network Corporate Finance advised Derby Cycle AG exclusively in connection with the transaction and provided the management board and supervisory board with a fairness opinion.

#Key data

Industry: Industrials
Client: DERBY CYCLE
Project type: M&A
Description: Sale to strategic investor
Date: November 2011

Transaction 

Pon Holding Germany, Kerpen, published its decision to submit a voluntary public takeover offer to all shareholders of Derby Cycle AG (“Derby Cycle”), Cloppenburg on September 21, 2011. Prior to this Dutch-based Pon Holdings B.V., Almere, and Derby Cycle signed a Business Combination Agreement. On October 21, 2011, Pon Holding Germany offered an acquisition price of EUR 28.00 per share, equalling an equity value of EUR 210 million. Network Corporate Finance advised Derby Cycle in connection with the transaction and provided the management and supervisory board with an assessment regarding the financial appropriateness of the offer (“fairness opinion”).

Network Corporate Finance already advised Derby Cycle exclusively in September 2011 in connection with the Business Combination Agreement and prior to that in February 2011 advised the initial public offering of the company.

 

The Company 

Derby Cycle is the strongest selling bicycle manufacturer in Germany and one of the leading suppliers in Europe. The Derby Cycle Group’s top-quality product range includes e-bikes, sport bikes for leisure cycling and competition, and comfort bikes for every day and travel use. These are sold using the well-established brands of Kalkhoff, Focus, Raleigh, Univega and Rixe. In fiscal year 2009/2010 the company recorded revenues of EUR 173 million with an average of approx. 550 employees.

For additional information on Derby Cycle:
www.derby-cycle.com

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