Stromer Independent Thanks to “Swiss Solution”
OBERWANGEN, Switzerland – After announcing it for years myStromer AG is finally restructuring and separated from former ‘mother’ BMC thanks to an expanded shareholder base, a newly appointed Board of Directors and, above all, fresh capital to invest in the development of Stromer’s ‘Digital Bike’.
At the end of 2011, the surprising takeover of Stromer by BMC was claimed to be the deal of the decade in the Swiss bicycle industry. But already in 2014 it was announced that majority shareholder and owner Andy Rihs was looking for a buyer and/or at least a notable participation into the e-bike company. Rihs wanted to reduce his commitment for reasons of age. It proved to be a wise decision at the right time. In particular as his disease became known now.
Commercially the synergies between the electro only brand Stromer with its urban target group and the very sporty BMC were too limited. Despite the new model ST2 launched in that year, which was ground-breaking in terms of connectivity, not much was heard any more about intentions to sell Stromer..
Now Stromer founder Thomas Binggeli presents the long-awaited solution. It comes not in the form of a high-calibre car manufacturer as was rumoured in the beginning, but a solid Swiss entrepreneur engagement who is providing an undisclosed amount of double digits million Swiss francs to Stromer. The group of investors consists of watch industrialist Stefan Schwab and software entrepreneur Ruedi Noser of the globally operating Noser Group as well as some undisclosed investors from the financial sector. Rihs and Binggeli remain the main shareholders of myStromer AG.
The new funds allow Stromer to continue developing its ‘Digital-Bike’ platform of the first fully connective ST2. New models are not yet to be expected this year though, but are in the pipeline. Additionally Stromer can grow its international presence; only a month ago the entrance on the Norwegian market was announced. According to Stromer, “exports already account for three quarters of sales, which have risen steadily by around 20 percent in recent years.” Although Stromer has not communicated figures recently, Binggeli is now disclosing towards Bike Europe a number of good 10,000 e-bikes sold last year, of which 8,500 ST2 models. “We do not write black figures yet but we are closer than ever before…” The 85 employees, mainly at the ‘Campus’ in Oberwangen west of Berne – generated a total turnover of 30 million Swiss francs last year.