ACCELL GROUP
Acquired by
KKR
ACCELL GROUP acquired by KKR
Target
ACCELL GROUP
Acquirer
KKR
Context
KKR launched a recommended cash offer to acquire all outstanding shares of Accell Group for EUR58.00 per share. The offer represents a premium of 26% over the closing price and 42% over the 3-month average. The deal is supported by Accell's Board and its two largest shareholders, Teslin (10.8%) and Hoogh Blarick (7.5%). The objective is to take the company private to accelerate the execution of its strategy (supply chain optimization, green mobility) away from public market volatility.
ACCELL GROUP, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 10.9x average currently observed in the Retail & Consumer sector.
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Target
Accell Group is the European market leader in e-bikes and a major player in bicycle parts and accessories. The group owns a strong portfolio of premium brands including Haibike, Winora, Ghost, Batavus, Sparta, Babboe, and the iconic French brand Lapierre. Based in the Netherlands, Accell employs approximately 3,100 people across 15 countries. It is particularly dominant in the high-growth mid-to-high-end e-bike segment.
Ent. Value
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with ACCELL GROUP
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