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Livingstone Partners LLP is regulated by the FSA
website by Hughes Media
Livingstone Partners is an international investment banking organisation,
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Derby Cycle Changes Gear in Livingstone Deal
December 2011
Pon Holdings B.V. acquired Derby Cycle AG
The Düsseldorf team of Livingstone Partners, working jointly with Rabobank International, has successfully advised Pon Holdings B.V., a Dutch family office investor, on the takeover on the of listed Derby Cycle AG. Pan’s German subsidiary offered the shareholders of Derby Cycle AG €28 per share, representing an equity value of €210 million.
Derby Cycle AG, based in Cloppenburg, is a top-selling bicyle manufacturer in Germany and one of the leading suppliers in Europe. A high quality product range includes electric bikes, sports bikes for recreation and competitive racing, and comfort bikes for everyday use. The bicycles are sold under the established brands Kalkhoff, Focus, Raleigh, Univega and Rixe. In the financial year 2009/10, Derby had sales of approximately €173 million and 550 employees. Derby went public in February 2011 in an Initial Public Offering and since then has been listed in the Prime Standard of German Stock Exchange Deutsche Börse. The company had become a member of German small-cap index S-Dax ahead of the takeover bid.
Dr. Ralf Nowak, Partner at Livingstone Düsseldorf, said: "We are pleased that, together with Rabobank International, we were able to oversee this friendly takeover bid successfully. The close cooperation of the advisory teams in the Netherlands and Germany made the implementation of the transaction very efficient."
Phillip McCreanor, Partner at Livingstone London commented: “This is another milestone transaction for our Public Company Advisory team and further confirms our extensive Industrial sector credentials.”
This was the sixth pan-European and 17th overall cross-border transaction successfully advised on by Livingstone Partners in 2011.
For further information contact:
Dr. Ralf Nowak
T: +49 211 300 495 0
E: nowak@livingstonepartners.de
Phillip McCreanor
T: + 44 20 7484 4725
E: mccreanor@livingstonepartners.co.uk