Gibson Dunn advises SC Holdings on investment in Canyon Bicycles
Koblenz/ Frankfurt/ Los Angeles — Gibson, Dunn & Crutcher LLP has advised US private equity firm SC Holdings on a strategic equity investment in Canyon Bicycles, the Koblenz-based manufacturer of premium bicycles. Investors in Canyon Bicycles through SC Holdings include LRMR Ventures, the family office of U.S. basketball players LeBron James and Maverick Carter.
Canyon, based in Koblenz and employing around 1400 people around the world, made a turnover of 416 million euros in 2020 and manufactures racing bikes, triathlon bikes, mountain bikes and e‑bikes, among other things. The manufacturer is heavily involved in professional sports and works with athletes such as road cyclist Mathieu van der Poel and triathlete Jan Frodeno. However, Canyon also sells bikes to private customers via direct sales. Shareholder of the Koblenz-based manufacturer remains company founder Roman Arnold.
The Gibson Dunn corporate team, led by partner Kevin Masuda (Los Angeles) and Frankfurt associate Dr. Jan Schubert, included counsel Annekatrin Pelster and associate Bastiaan Wolters (both Frankfurt). Counsel Alexander Klein (Frankfurt) advised on financing, Munich partner Dr. Hans Martin Schmid on tax law.
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