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Allen & Overy advises The Riverside Company on IPO of German premium bicycle platform Bike24

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Dr Astrid Krueger

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Thomas Neubaum

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Harald Klett
Harald Klett

Manager PR & Communications

Frankfurt am Main

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02 July 2021

Allen & Overy has advised global investment firm The Riverside Company (“Riverside) on the IPO of Dresden-based Bike24, a leading e-commerce platform which is all about cycling.

A current majority owner in Bike24, Riverside placed 12 million existing bearer shares from an affiliate of its European Riverside Fund with international institutional investors. The total volume of the IPO amounted to EUR 322 million.

As part of the IPO, Bike24 has optimised its financing structure by securing a new credit facility which allows the firm to fund further growth and bolster its ongoing working capital and liquidity needs. In addition to counseling on the listing, Allen & Overy also advised on this financing.

Bike24 is a one-stop bike shop catering to the fast-growing community of cycling enthusiasts. Founded in 2002 in Dresden (Germany), the company has evolved from a specialised online retailer in the cycling sector to one of the leading e-commerce platforms in continental Europe with a focus on the premium bicycle segment.

The team of Allen & Overy was led by partner Dr Astrid Krüger (Corporate/M&A, Munich), as well as, regarding financing, by partner Thomas Neubaum (Banking & Finance, Frankfurt) and further comprised partners Dr Knut Sauer (Corporate/ECM) and Dr Hans-Peter Löw (Employment & Benefits, both Frankfurt), as well as counsels Dr Jens Wagner (Corporate/M&A, Munich), Dr Mark Hallett (Banking & Finance), Boris Blunck and Dr Sebastian Schulz (both Employment & Benefits, all Frankfurt). Furthermore, the team included associates Adriana Worms and Johannes Graßl (both Corporate/M&A, Munich), Louisa Drewniok (Banking & Finance), Martin Kalbhenn (ICM) and Lisa Wantzen (Employment & Benefits, all Frankfurt).

In addition, the team included lawyers from Allen & Overy’s Luxemburg office.