All Cycle Union articles
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News briefsNew Cycle becomes shareholder and partner in Freebike
Oldenburg, Germany-based New Cycle GmbH (formerly Cycle Union) has joined Dutch e-bike provider Freebike B.V., based in Rosmalen, as a minority shareholder. Details of the acquisition, what minority stake New Cycle is now holding in Freebike and what was paid for it were not disclosed. With New Cycle, the Freebike ...
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News briefsCompanies of insolvent Prophete Group up for sale
Following the filing for insolvency in late 2022, the appointed preliminary insolvency administrator Manuel Sack of law firm Brinkmann & Partner (B&P) has initiated “a structured international investor process with the approval of the preliminary creditors’ committee” for the Prophete Group. This means that the operational business activities of the ...
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ArticleGerman bicycle manufacturer Prophete files for insolvency proceedings
On Dec. 20, the renowned German bicycle manufacturer Prophete GmbH & Co. KG filed a petition to open insolvency proceedings (file number 43 IN 777/22). The court appointed Manuel Sack of nationwide law firm Brinkmann & Partner as Prophete’s provisional insolvency administrator. Between Dec. 20 and 23, the following entities ...
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ArticleProphete Group with management change after successful turnaround
In mid-2019, when the German bicycle supplier Prophete Group ran into difficult waters, the two owner families, Lönne and Prophete, brought the turnaround consultancy Struktur Management Partner GmbH on board. Interim manager Felix Schwabedal was tasked with designing and implementing the restructuring. Effective Oct. 1, 2021, he will now be ...
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News briefs
Prophete-Cycle Union Group completes management team
Prophete-Cycle Union Group , a German bicycle supplier, has completed its management team with Sven Elmers as its COO. The supply chain expert joins from competitor Derby Cycle. In his new role, Elmers is responsible for purchasing, production planning, assembly, logistics and workshop operations at both Prophete , which ...
