WiggleCRC to acquire Bike24 Sunday, 21 January 2018
Wednesday, 25 October 2017
Travers Smith LLP has advised the WiggleCRC group, majority owned by private equity firm Bridgepoint, on its acquisition of Bike24 from Riverside, a global private equity firm.
Bike24 is a leading German retailer of bicycles and related equipment, which also operates in Austria and Switzerland. Bike24 is based in Dresden, Germany and is one of Europe's fastest growing online bike retailers.
Bridgepoint acquired the Wiggle group in 2011, and Travers Smith LLP advised on the subsequent merger with Chain Reaction Cycles ("CRC") in 2016.
The Travers Smith team advising was led by Head of Private Equity Paul Dolman, who was supported by Senior Counsel Asma Rashid, Senior Associate Joanna Roberts and Associates Clarissa Otte and Laura Kelly. Head of Tax Simon Skinner provided specialist tax advice, assisted by Associates Silvana Van der Velde and Mary Hughes. Finance Partner Barry Newman assisted by Associates Taggio Price and Daniel Domb advised on the financing of the transaction.
Noerr LLP advised the WiggleCRC group on the German law aspects of the transaction.
Riverside were represented by Allen & Overy LLP.