Context

Brockhaus Technologies AG has entered into a definitive agreement to sell its approximately 52% majority stake in Bikeleasing to Decathlon Pulse SAS. The strategic rationale for Decathlon is to accelerate its transition into the high-growth corporate mobility sector and secure a market-leading digital platform in Germany. For Brockhaus Technologies, the sale represents a successful exit from one of its core "innovation champions," generating approximately €240 million in gross proceeds (based on Q3 2025 estimates). The deal is structured using a "closing accounts" concept, adjusting for net debt and working capital at the time of completion. The transaction remains subject to regulatory approvals and is expected to close in the first half of 2026.

Target

Founded in 2015, Bikeleasing is a leading German B2B service platform specializing in company bike leasing solutions. Its business model connects employers, employees, and bicycle dealers through a digital ecosystem that facilitates tax-optimized leasing contracts (salary sacrifice). The company’s value proposition centers on promoting sustainable corporate mobility while reducing costs for employees and administrative burdens for HR departments. Strategically, Bikeleasing operates as a high-margin technology champion within the German "Mittelstand," leveraging a vast network of partner dealers to provide a comprehensive range of bicycles and e-bikes. By digitalizing the entire leasing lifecycle—from automated insurance to maintenance management—the firm has established a dominant position in the green mobility services market.