On 24 January 2022, Accell Group and a consortium led by leading global investment firm KKR announced that they entered into a merger agreement for a recommended all-cash public offer to be made by the consortium for all outstanding ordinary shares in Accell Group, for a total consideration of approximately EUR 1.56 billion. NautaDutilh acts as legal advisor to Accell Group.
Accell Group makes bicycles, bicycle parts and accessories. It is the European market leader in e-bikes and second largest in bicycle parts and accessories. Well-known bicycle brands in Accell Group’s portfolio include Batavus, Sparta, Babboe and Koga. This transaction marks an important step for Accell Group. Having the consortium as a financially strong and knowledgeable partner focused on long-term value enhancement will enable Accell Group to grow its business in an accelerated timeframe, to launch new innovations for green mobility and to strengthen its position as one of the world’s leading bicycle market players, against the backdrop of continued supply chain volatility and a dynamic global environment full of challenges and opportunities. Closing of the offer is subject to customary conditions and is expected to occur in late Q2 or early Q3 2022.
The NautaDutilh team was led by Stefan Wissing and included Sybren de Beurs, Dirk Panis and Arthur Boitelle (Corporate M&A), Homme ten Have and Arjan Koorevaar (Employment), Nina Kielman and Alissia Sudibyo (Tax), Paul van der Bijl and Koen Biesma (Notarial), and Nima Lorjé (Competition).
Lead partner Stefan Wissing says: “We are proud to represent Accell Group in the first public offer announced in 2022. Following the announcement of the acquisition by ALD of LeasePlan earlier this month, this is already the second one billion plus transaction this year that we’re advising on. 2022 is definitely off to a good start and has all the signs of becoming yet another good year for M&A.”