Wed 12/13/2023 12:02 PM
Sponsor KKR has increased its
€100 million shareholder loan to Accell by another €50 million after the Dutch bicycle group’s earnings continued to slide in the third quarter amidst worsening conditions in the oversupplied European bike market. The group’s backlog shrunk by 20% sequentially during the third quarter as a result of falling dealer orders, with the outlook expected to remain depressed throughout 2024 and 2025, sources said.
Accell’s revenue fell 10%...
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