London-based private equity group Inflexion has signed a definitive agreement to acquire Enviolo, Inc., the maker of stepless gear drivetrain components used primarily on e-bikes.
Headquartered in the Netherlands, and with additional operations in Austin, TX, Enviolo designs and develops transmission systems for e-bikes mainly for the European and North American markets. The company’s technology enables cyclists to intuitively adjust the gear ratio.
Simon Turner, managing partner, Inflexion, commented, “The Enviolo team has created an innovative product offering which makes cycling more appealing and comfortable to the growing number of cyclists turning to it as a social, healthy activity and an environmentally friendly method of transportation in cities around the world. The team is incredibly driven and we look forward to working with them to grow their excellent business further both in the local Dutch market and internationally.”
David Hancock, CEO, Enviolo, said, ” We are proud and excited about our opportunity to work with bike makers to develop great bikes together which can change riders’ lifestyles and ease congestion in urban areas. Our new partnership with Inflexion will help us grow faster as their proximity to our Amsterdam office and presence in the US, China and India are well placed to support our plans. We are greatly looking forward to this exciting new partnership.”
The transaction is subject to customary regulatory clearances and is expected to close by March 31, 2022.
Latham & Watkins LLP and NautaDutilh served as legal advisors to Inflexion, and Stepstone Corporate Finance served as financial advisor to Inflexion. Ropes & Gray LLP served as legal advisor to Enviolo, and Lazard B.V. and Lazard Middle Market LLC served as financial advisor to Enviolo.
