Fallbrook ‘Emerges’ From Chapter 11 Restructuring Procedures
AMSTERDAM, the Netherlands – Fallbrook Technologies emerged from restructuring under Chapter 11 on June 25, 2018. The filing for restructuring was done on 26 February this year and allowed Fallbrook to create a reorganization plan.
“The restructuring measures we have taken, along with the reorganization plan, led to a simpler Fallbrook structure, composed of two focused divisions,” explains David Hancock, enviolo’s newly appointed President and CEO. “This simple structure allows each business to fully focus on their own core objectives.” Fallbrook’s licensing activities in the bicycle industry are handled by enviolo (former NuVinci cycling).
More customer centered
“Moreover, we at enviolo saw this as an opportunity to adapt our organizational structure to be more customer centered,” explains Hancock. “This new structure aims at ensuring partners and customers to enjoy a high-quality journey, from the moment they get in touch with the division, until after-sales services. Thus, the newly created ‘Brand Experience department’ incorporates the customer experience and marketing teams. It will take care of all retail orders and partnerships, retail education programs, service questions, and warranty cases.”
The Chapter 11 for Fallbrook Technologies Inc. has resulted in new ownership of the company as Bike Europe reported. The former senior debt holder Kayne Anderson Capital Advisors is now the new majority shareholder and the financing source for Fallbrook, including its brand for step-less bicycle transmission systems enviolo. Los Angeles based Kayne Anderson Capital Advisors LP is an independent alternative investment management firm focused on investments in niches.