Canyon Bicycles GmbH, a Koblenz, Germany-based direct-to-consumer manufacturer of premium bikes, received a strategic equity investment of undisclosed amount.
The deal was led by LRMR Ventures, the family office of global icon LeBron James and Maverick Carter, and SC Holdings, a US-based private equity firm focused on market-leading brands.
Canyon is a direct to customer manufacturer of road, mountain, triathlon, and urban bikes which are exclusively available online at www.canyon.com. Working with professional teams and superstars such as Mathieu van der Poel, Jan Frodeno and Fabio Wibmer, the company develops performance technologies for the highest level of the sport and integrates them into bikes for general consumers.
Now, the brand will work with LRMR and SC to increase engagement in the US and in the e-bike category, elevate global brand awareness and deliver the best online shopping experience. The new investors will join the company’s existing shareholders, including majority holder Groupe Bruxelles Lambert and the company’s founder, Roman Arnold, to support Canyon’s US growth plans.
In parallel, Canyon is further strengthening its digital capabilities by appointing Robert Kyncl, Chief Business Officer at YouTube, as a board member.