Cykelgear is the leading e-commerce business for bike parts, clothing and accessories in Denmark with a turnover of more than DKK 200 million in 2021. Following the investment and its acquisition of a majority stake, Foreman Capital now partners with the founders of Cykelgear to fulfil an ambitious growth strategy within the Nordic e-commerce business for bike components.
“We are proud to announce to our amazing team that our successful results have been rewarded with a big new leap: the partnership with Foreman Capital. Together we will realize our ambitious growth plan and with the right focus on ‘People, Systems and Processes’, we will grow further in the Nordic region.” say Kasper and Erik Buus Larsen, founders of Cykelgear.
Martin Jacobsen from Foreman Capital tells: “Cykelgear is a well-run and profitable e-commerce company with a strong market position, a high share of organic traffic and an efficient and automated setup. In collaboration with Kasper and Erik, we look forward to expanding the company's position in Denmark, growing in the rest of the Nordic region and contributing with our experiences including our investment in the do-it-yourself e-commerce company Fixami.”
We are happy to have assisted Foreman Capital with legal advising through the investment.
