Optima Cycles accelerates growth with Bolster
Bolster Investment Partners acquires a 50% stake in Optima Cycles. Optima Cycles is specialized in designing, producing and distributing premium e-bikes and e-cargo bikes. It is active in the Netherlands, Belgium and Germany and operates under the labels Dutch ID and Lovens. Simultaneously with Bolster’s investment in Optima Cycles, sister company MM Bicycles, located in Taiwan, will be acquired and integrated into the group, and will continue under the name Optima Cycles Asia. Bolster will support Optima Cycles in its growth ambitions and international expansion.
Optima operates a state of the art assembly facility in Beverwijk, The Netherlands, housing among others the design and sales department, whereas the production of frames and the sourcing of parts takes place at the production site in Taichung, Taiwan. Optima has a unique position in the value chain with all steps of the production process taking place in-house. From design to production and to assembly, both for its own brands Dutch ID and Lovens as well as for third parties, including Urban Arrow.
The combination of Optima Cycles and Optima Cycles Asia has 120 employees and realized a turnover of € 47 million in 2020.
Optima Cycles’ e-bikes and e-cargo bikes are characterized by a modern design and an optimal riding comfort. The recently introduced Dutch ID Phantom has won the largest bicycle test in the Netherlands (the ADR Bicycle Test) and came out on top at the ‘Consumentenbond’ test. In addition, the Lovens – a premium electric cargo bike, introduced this year – has been received with great enthusiasm by specialist bicycle dealers because of its thoughtful design, quality and innovations.
The e-bikes market is growing rapidly, both in the Netherlands and internationally. The growth is driven by several trends, such as the increased focus on a healthier lifestyle and the rising demand for sustainable mobility solutions. The e-bike, for instance, is increasingly being used as a substitute for cars or other forms of mobility such as public transport. Growth is expected to prolong in the coming years. With the support of Bolster as a shareholder, Optima Cycles will focus even more on the growth of its own brands and international expansion.
Michael van der Meijden, founder and owner of Optima Cycles: “For over 25 years we have been producing bicycles of excellent quality and a state-of-the-art design. This is accomplished by detailed monitoring of user experience, and by keeping the entire process – from design to production- in-house. This forms the basis of our unique position in the bicycle industry. We are pleased that in Bolster we have found a partner that has the knowledge and expertise to further strengthen our international ambitions.”
Michiel van Wissen, Partner at Bolster Investment Partners: “Optima Cycles, an innovative Dutch manufacturing company with an unique position in the value chain, fits seamlessly into our investment philosophy. We strongly believe in the immense potential of this fast-growing market and the attractive positioning of Optima Cycles within this market. We look forward to working with the Optima Cycles team in the Netherlands and Taiwan.”
The transaction is still subject to approval by the relevant competition authorities.
For more information, please contact:
Optima Cycles
Ramon Vial: +31 6 14 927 075
Bolster Investment Partners
Michiel van Wissen: +31 20 226 3088
About Optima Cycles
Optima Cycles specializes in the design, production and distribution of premium e-bikes and e-cargo bikes. Optima Cycles produces and assembles its own developed brands Dutch ID and Lovens in its own factories in Beverwijk and Taiwan and also produces for third parties. The new combination of Optima Cycles and Optima Cycles Asia has 120 employees and realized a turnover of € 47 million in 2020.
About Bolster Investment Partners
Bolster Investment Partners is a long-term investor specializing in minority interests. Bolster invests in exceptional Dutch companies with a keen focus and proven business model. Bolster helps entrepreneurs realize their company’s full potential by acting as equal partners. Bolster has a proven track record. As an investment firm, we have collaborated successfully with over 100 companies.