Swiss Road Bike Maker Hires Adviser for Sale Options
The Swiss company Stromer, a maker of high-end electric road bikes, has hired an adviser to explore options for a sale of the business. The company, which is based in Zurich, has been in business since 2008 and is known for its luxury electric road bikes that cost up to $20,000.
Stromer’s History and Business Model
Stromer was founded in 2008 by Thomas Binggeli, a Swiss entrepreneur. The company’s mission was to create a high-end electric road bike that could compete with traditional road bikes in terms of performance and design. The company has since become a leader in the electric bike market, with its bikes being sold in more than 30 countries.
Stromer’s business model is based on selling its bikes directly to consumers, as well as through a network of dealers and distributors. The company also offers a range of accessories and services, such as bike maintenance and repair, to its customers.
Stromer’s Financial Performance
Stromer has seen strong growth in recent years, with sales increasing by more than 20% in 2020. The company has also seen a surge in demand for its bikes, with sales in the first quarter of 2021 up more than 50% compared to the same period last year.
The company has also seen strong growth in its profits, with net income increasing by more than 40% in 2020. This growth has been driven by increased sales and improved margins, as well as cost-cutting measures.
Stromer’s Hiring of an Adviser
Stromer has recently hired an adviser to explore options for a sale of the business. The company has not yet made a decision on whether to pursue a sale, but the hiring of an adviser suggests that the company is considering its options.
The company has not disclosed the identity of the adviser, but it is believed to be a Swiss investment bank. The adviser is expected to provide advice on the best way to structure a sale, as well as potential buyers.
Potential Buyers
There are a number of potential buyers for Stromer, including private equity firms, strategic buyers, and other investors. Private equity firms are likely to be interested in the company due to its strong growth and potential for further growth. Strategic buyers may also be interested in the company, as it could provide them with a platform to expand their presence in the electric bike market.
Stromer’s Future
It remains to be seen what the future holds for Stromer. The company has seen strong growth in recent years and is well-positioned to capitalize on the growing demand for electric bikes. However, the hiring of an adviser suggests that the company is considering its options, and a sale of the business could be on the horizon.