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Bicycle Manufacturer Behind Batavus and Sparta Closes Deal with Creditors
4 Articles
4 Articles
Bicycle manufacturer Accell, known for the Batavus and Sparta brands, has reached a deal with its creditors. The struggling company will receive additional funding, enabling it to reduce its debt burden. The current owner, venture capital firm KKR, will transfer the shares to various creditors. A spokesperson says the deal has eliminated most of the debt. Accell has been facing significant problems since the coronavirus pandemic. During that per…
Bicycle manufacturer Accell is being acquired by its creditors, the company announced. They are canceling some of the debt and also injecting new funds into the...
As the parent company of brands such as Ghost, Babboe or Raleigh announced, a new financing will secure the future, while the previous owner KKR withdraws. The goal is a clear reduction of debt and a more stable formation for the future. [toc] Agreement with creditors reached After a difficult phase for the Dutch bicycle group seems to have found a solution. Accell has reached an agreement with its lenders and owners on a new financing. Through …
US private equity firm KKR is divesting itself of bicycle giant Accell. Lenders are now taking control. As a parting gift, KKR is injecting fresh capital.
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