Moustache E-Bike Manufacturer Welcomes New Shareholder
PARIS, France –French e-bike manufacturer Moustache Bikes announces the sale of 55 percent of its shares to LBO France. This private equity company took over all the Moustache shares that were owned by Initiative & Finance, an investment fund that participated in Moustache Bikes since 2015.
The arrival of LBO France will not change the structure of the company as founders Emmanuel Antonot and Grégory Sand, have also invested in the company. They will continue to operate the company management.
Moustache Bikes sold approximately 27,000 e-bikes in 2018
Moustache Bikes was created in 2011 and is located in the Vosges in northeastern France. Year after year, the French brand reported double-digit growth. Compared to 2017, Moustache Bikes generated 30 percent growth in revenue to 50 million euro in 2018. Last year, Moustache Bikes sold approximately 27,000 e-bikes via 530 retailers across 18 countries. International sales represent 40% of its turnover.
Support for next growth phase
Moustache Bikes’ success was rewarded in 2017 when it won the “Start-up of the Year” award for Eastern France as part of the “EY & L’Express Entrepreneur of the Year” awards.
Vincent Briançon, Mid Cap Partner at LBO France, said “We are delighted to have the opportunity to work alongside the two founders and the team of Moustache Bikes to support the company in its new growth phase, both in France and internationally. While electric bikes currently account for 11% of the bikes sold in France, they are gaining ground as a new means of urban transportation and a new, dynamic leisure activity.”
Moustache Bikes’ Grégory Sand said “After three years of an excellent collaboration with Initiative & Finance, we are very pleased to welcome LBO France on board in order to take our business to the next level. Managing the strong growth which we have experienced from the start, requires the necessary resources as well as a solid support. The arrival of LBO France coincides perfectly with our strategy, needs and ambitions in France and internationally.”