Kirkland & Ellis International LLP advises the founder and CEO of Canyon Bicycles GmbH, Roman Arnold, on the sale of a minority interest in Canyon Bicycles to TSG Consumer Partners. This is one of the few transactions in Germany where a minority interest of a midmarket company is being sold to an investor. The value of the transaction, which is expected to close in the first half of 2016, is confidential.
Canyon Bicycles GmbH is a German manufacturer of racing bikes, mountain bikes and triathlon bikes based in Koblenz, Germany. 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, the current triathlon world champion and Ironman winner.
TSG Consumer Partners is a U.S. 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.
Kirkland’s Munich-based team was led by corporate partners Dr. Jörg Kirchner and Nicole Schlatter, and included tax partner Dr. Oded Schein, corporate associates Dirk Kramer and Armin Mustafic and tax associate Sonja Schmitz.
Kirkland's Munich office consists of approx. 40 attorneys who focus primarily on private equity and mergers and acquisitions, restructuring/insolvency, acquisition financing and tax matters.