April 4, 2022 - (Oberwangen, SUI) myStromer AG (“Stromer”), a leading manufacturer of Speed Pedelecs, has reached an agreement with the owners of Desiknio Cycles SL (“Desiknio”) to merge with the Spanish brand of premium handcrafted e-bikes. The details of the agreement were not disclosed. The transaction is subject to customary approvals.
Stromer and Desiknio are characterized by a high level of innovation, fully integrated design, leading technology as well as premium quality. Both e-bike manufacturers share the goal of shaping the future of mobility through sheer driving pleasure, efficiency and quality of life. Desiknio is well suited to expand the Stromer product portfolio: The Swiss-assembled Stromer Speed Pedelecs with electric assistance up to 45 km/h are an efficient means of transport, especially for commuter routes of 15 km and more. Desiknio’s premium e-bikes, which are designed in Spain and handmade in Europe, are perfectly suited for inner-city traffic and shorter distances with electric assistance up to 25 km/h.
Desiknio was founded in 2017 by Joaquin Cortes and is characterized by a high degree of innovation and design orientation. With a weight of only 13 – 15 kg, the models are particularly light and feature a dynamic, powerful and silent rear-wheel drive from Mahle. Full connectivity is provided by the MySmartBike app by Mahle, which enables, for example, individual motor settings, range measurement and a GPS function.
By joining forces with Desiknio, Stromer can further expand its leading market position. Stromer employs around 140 people and currently has over 90,000 customers. The company’s growth strategy focuses on expansion into new markets, scaling of the business model and the development of new, innovative products. In the short term, the partnership will allow forces to be combined, especially in sales, and Desiknio will now have access to Stromer’s entire sales network. In the medium term, R&D and supply chains will be synergized. Desiknio will continue to be managed by founder and CEO Joaquin Cortes as an independent subsidiary of Stromer and will thus retain its special brand character.
Jakob Luksch, CEO of Stromer, comments: “The Stromer and Desiknio brands complement each other perfectly, both in terms of values and our portfolio, which we can now expand to include e-bikes for urban traffic with electric assistance up to 25 km/h. With stylish design, incredible power and light weight, there is currently no better e-bike for distances up to 15 km in this class. Together with our strong and visionary partner Naxicap Partners, we will continue to consistently pursue our growth ambitions and for this purpose will intensively monitor the developments on the e-bike market.”
Joaquin Cortes, CEO of Desiknio, adds: “Desiknio is extremely proud to have joined forces with Stromer, a leading brand in the e-bike market. This partnership has been formed through a synergy the two brands share for sustainable mobility, design aesthetics, and technology, advancing their products and the e-bike market as a whole. Desiknio feels incredibly privileged to be part of this great unity and looks forward to an exciting and innovative future, continuing to have design and elegance at the heart of all products, while also elevating the boundaries of future innovation in the e-bike market.”
Tomi Viiala, VP Sales Global of Stromer, says: “We are very pleased to have Desiknio’s e-bikes in our portfolio. The integration of Desiknio will further strengthen Stromer as the mobility brand of the future and open new doors for us, especially in the German market. We expect that many existing Stromer partners will also include the Desiknio brand as an addition to their product range.”
The move comes at a time when global mobility behavior is undergoing massive change. Not least due to the Covid pandemic, there has been a strong trend towards individual transport, and against this backdrop e-bikes in particular are becoming fundamentally important. Stromer and Desiknio are also benefitting from other global trends such as connectivity, sustainability and car-free cities. Premium e-bikes respond to all these trends and offer an attractive alternative to the car. A market study commissioned by Stromer in January 2022 with 4,525 customers showed that 87 % primarily use the e-bike for their daily commute to work – 59 % of them also during winter.
The bicycle industry is responding to these global trends and changing individual needs and as a result is becoming increasingly differentiated, which will lead to further market consolidation in the coming years. Stromer, with its leading market position, is helping shape the market in close partnership with its shareholder Naxicap Partners. The company has clearly positioned itself in the premium segment and as a provider of individual advanced mobility solutions with its multi-brand strategy.
Stromer has been part of the Naxicap Partners portfolio since summer 2021. As a leading private equity firm, Naxicap Partners pursues a strategy of supporting the growth of companies with a focus on sustainable products. The acquisitions of Stromer and Desiknio are prime examples of Naxicap Partners’ investment approach of creating long-term value and thus sustainable growth, while working with committed and entrepreneurial management teams.
