Investors expect their investments to appreciate in value. Over the past decade, well-managed private equity funds have generally doubled the capital invested for their investors over the term of the investment, after deducting their own, usually very attractive, fees. However, this requires that the company's value also rise sharply during the investment period, more than doubling. These average times-two money multiples also include investments that perform poorly or even fail, for example, due to insolvency. What is the secret behind investment funds' value creation?

Basque bicycle manufacturer Orbea reported a limited 2.3% decline in revenue for 2025, a small reduction in revenue that the cooperative attributes to its continuous market monitoring and disciplined management of a "responsible sales plan." This contrasts with 2024, when Orbea reported an 8% year-over-year decline in turnover, suggesting that profitability and margin performance stabilised considerably in 2025.

High-precision gear and component manufacturer hGears AG started 2026 as expected: the publicly-traded company was aware in advance that it would not be able to achieve exceptional growth amid geopolitical uncertainties and the resulting strain on economic momentum. So even though first-quarter revenue for 2026, at €23.4 million, was 6.9% below the comparable period last year, it was still within the company's expected range.

Porsche AG has announced it will shut down its e-bike drive-system subsidiary, Porsche eBike Performance GmbH, as part of a broader restructuring for the renowned German manufacturer.

Stock-listed e-commerce bicycle retailer Bike24 Holding AG has gotten off to a strong start in the new year. The Dresden-based company posted not only first-quarter double-digit growth, but also a significant improvement in adjusted EBITDA.

Laka is continuing its aggressive expansion in the bike insurance business with its acquisition of UK specialist insurer VeloLife, marking the company's fourth acquisition since 2023. This is the company's first publicly announced deal tied to its recently expanded M&A (mergers and acquisitions) strategy.