06/2021MajorityLBO

Equip Capital takes majority stake in Ryde

NORWAY Consumer Products / Sport / Cycling & Micromobility REV NOK 100–200M

Context

Equip Capital has acquired a 60% majority stake in Ryde to support the company's next phase of growth in the Nordic micromobility market. This transaction allows the founders to remain heavily involved in the company's capital and management while partnering with an investor that brings the necessary financial resources and expertise to accelerate growth. Through this investment, Equip aims to drive Ryde's geographic expansion and strengthen its presence in key Norwegian cities. Ryde operates in a rapidly growing micromobility market, driven by increasing adoption of more flexible and environmentally friendly urban transportation solutions. The company has quickly established itself as a leading player in the sector, thanks to its proprietary technology platform and highly effective operational management. By acquiring a 60% stake, Equip Capital is well-positioned to support Ryde's continued growth and expansion in the Nordic region. The partnership will enable Ryde to leverage Equip's financial resources and industry expertise, while the founders will continue to play a key role in shaping the company's strategy and direction. As the micromobility market continues to evolve, Ryde is poised for further success, driven by its commitment to innovation, customer satisfaction, and sustainability.

Ryde, which reported an EBITDA margin of [members only] in 2021, is valued in this transaction at an EV/EBITDA multiple of [members only].

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Target

Ryde is a micromobility operator founded in 2019 by Johan Olovsson and Espen Rønneberg. Headquartered in Oslo, the company offers urban mobility solutions primarily based on dockless e-scooters for short-distance trips in city centers. Ryde has established itself as a leading independent player in Northern European micromobility, driven by a business model focused on operational profitability and complete control over its value chain. Unlike many of its competitors, Ryde manages its technology, fleet, and daily operations in-house, enabling the company to optimize costs and enhance the efficiency of its network. With a fleet of over 120,000 vehicles deployed across 69 cities in Norway, Sweden, Finland, and Germany, Ryde's platform serves approximately 880,000 monthly active users, who have completed nearly 63 million trips as of 2025.

Ent. Value

[members only]

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (NOK)

Year

Rev

EBITDA

EBIT

2021

2020

Other operations with Ryde

Other operations with Ryde
Date	Acquirer	Target	Country	Sector
06/2026	EQUIP CAPITAL / GOLDMAN SACHS	RYDE	NORWAY	Cycling & Micromobility

Other operations with Equip Capital

Other operations with Equip Capital
Date	Acquirer	Target	Country	Sector
06/2026	EQUIP CAPITAL / GOLDMAN SACHS	RYDE	NORWAY	Cycling & Micromobility

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REFERENCES

Revenue range: REV NOK 100–200M

EBITDA range: NOK 5–25M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Ryde by Equip Capital are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: ryde

FAQ

What transaction does this page cover?

This page covers the acquisition of a majority stake in Ryde, a Norwegian company specialised in Sport, by Equip Capital in 2021, structured as a leveraged buyout (LBO). Ownership has since evolved, leading to a subsequent transaction with Equip Capital / Goldman Sachs in June 2026 (see the dedicated deal page for details).

What were Ryde’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Ryde generated annual revenue estimated in the NOK 100–200M range and EBITDA in the NOK 5–25M bracket (FY 2021). Detailed financial figures are available to members.

What sources support the information on this transaction?

Transaction intelligence is supported by independent reporting from specialized financial publications, alongside a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

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