May 21, 2021 - Naxicap, a private equity arm of the French asset management company Natixis with assets of approximately €4 billion, has acquired myStromer AG based in Oberwangen, Switzerland, for an undisclosed amount reports Frankfurter Allgemeine.

Founded in 2009, Stromer is known for its premium quality urban e-bikes (25kph) and speed pedelecs (45kph). With sales reported to be €50 million in 2020, projections are for 60 million euros in the current year, and the new owners see 20% growth annually as a benchmark.

Stromer has a market share of 20 percent in Switzerland, the Netherlands and Belgium, and plans to expand its presence in Germany. Naxicap is on the move having made three recent acquisitions in Germany.

Read the full report here.