Denmark’s leading online bicycle retailer Cykelgear, which is majority-owned by Foreman Capital, has acquired competitor Cykelpartner, further strengthening its position in the market.
The online store Cykelpartner sells anything related to bicycles, including accessories, equipment and spare parts, and a wide range of sports and outdoor products. The company employs 16 people and is headquartered in Jeberg in central Jutland.
Cykelgear was formed in 2008 and is the market leader in online sales of equipment, spare parts and accessories for bicycles in Denmark. The company, which has around 50 employees across administration and the warehouse, manages more than 500,000 orders annually from customers in the Nordic countries and also delivers to most of Europe. In 2021, the private equity fund Foreman Capital became the majority owner of the company.
Cykelgear and Cykelpartner will continue as independent brands in Denmark.
Accura advised Foreman Capital in connection with the transaction.