Shearman & Sterling advised BNP Paribas and Landesbank Baden-Württemberg on the financing of the acquisition of Canyon Bicycles GmbH (Canyon), a leading German bicycle manufacturer by Groupe Bruxelles Lambert (GBL).
Canyon headquartered in Koblenz manufacturers racing bikes, triathlon bikes, mountain bikes and e-bikes. The well-known manufacturer is strongly involved in professional sports but also sells to retail customers via its website. The company was founded 24 years ago and emerged from a bike retailer. With around 900 employees worldwide, the company has a turnover of around €400 million.
Groupe Bruxelles Lambert is a Belgian investment company and one of the leading investors in Europe. GBL is focused on long-term value creation and relying on a stable and supportive family shareholder base.