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Derby Cycle Celebrates IPO
Derby Cycle AG has been listed on the Prime Standard of the Frankfurt Stock Exchange since 04 February 2011. The company with a long tradition based in Cloppenburg (Lower Saxony) is Germany’s largest bicycle manufacturer by sales volume, and one of Europe's leading cycle manufacturers.
The company was acquired by Finatem and the management in 2005.
Derby Cycle generated annual sales of € 94 million with its 360 employees at the time of the acquisition.
The firm’s strong points included a good customer structure with an emphasis on specialist retailers, acting in an attractive market segment with a good growth potential. Thanks to the financing structure and the jointly pursued strategy, Derby aggressively pursued growth targets in Germany and Europe under Finatem‘s majority ownership. The results are also reflected in the last financial year's sales figures: In 2009/2010, Derby Cycle and its now approx. 550 employees notched sales of € 173 million, 73% of which within Germany, and 27% abroad. Derby Cycle sold a total of 430,000 bicycles, including approximately 44,000 electric cycles (previous year’s sales: 28,000).
Derby Cycle’s high-quality product palette includes e-bikes, sporting cycles for recreation and races, as well as general-purpose bicycles for daily use and travel. They are distributed through the familiar Kalkhoff, Focus, Raleigh, Univega, and Rixe brands. Through each brand, Derby Cycle offers mid-range to high-priced models tailored to the needs of the different segments in the cycling market.
Institutional investors in particular subscribed at an issue price of € 12.50 per share. On 04 February 2011, the first price was listed at € 13.15. Finatem still holds 10% of the shares in order to continue to participate in the rising share prices generated by the expected performance of the Group.