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THE PLATFORM GROUP AG EQS-News: The Platform Group AG acquires bicycle parts platform

Transparency directive : regulatory news

11/07/2024 14:00

EQS-News: The Platform Group AG / Key word(s): Investment/Takeover
The Platform Group AG acquires bicycle parts platform

11.07.2024 / 14:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


The Platform Group AG acquires bicycle parts platform

Düsseldorf, 11 July 2024.
The Platform Group AG (ISIN DE000A2QEFA1, “TPG”), a leading software company for platform solutions, has acquired a majority stake in Jungherz GmbH. Jungherz operates the Radzentrum Nagold (a stationary bicycle center), the Fahrradteile-Shop (an online shop for bicycle parts) and is a licensed partner for Centurion, Haibike, Ghost, Scott, and other renowned brands.

Falko Borkhart, Managing Director of Jungherz GmbH: “We are looking forward to growing together with TPG in the future and expanding our activities particularly with TPG’s portfolio company Bike-Angebot. Since we are addressing the same market, we see great potential to better serve the accessories segment as a platform in addition to e-bikes.”

Jungherz GmbH will be 90% owned by TPG in the future. The assets of the former Greendonkey GmbH were acquired prior to the transaction and transferred to the company. At the Nagold site, 30 employees work in the areas of online retail, platform, partners, and services.

Dr. Dominik Benner, CEO of The Platform Group AG: “With the majority acquisition of Jungherz, we are strengthening our Freight Goods segment and can strategically expand the accessories range together with Bike-Angebot. With the automated Autostore warehouse system in use at Jungherz, the stage is set for further growth. We are buying anti-cyclically: the bicycle market is currently in a state of crisis, so we are seizing the opportunity and benefiting as a platform from the wide range of products being on offer.”

Closing of the transaction is expected by the end of July 2024. The parties have agreed not to disclose the purchase price.

The Platform Group AG:

The Platform Group AG is a software company that is active in 22 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as furniture retail, machinery retail, dental technology, car platforms, and luxury fashion. The Group has 16 locations across Europe and is headquartered in Düsseldorf. Over 24 investments and company acquisitions have been made since 2020. In 2023, pro-forma sales of EUR 441 million and an operating result (adjusted EBITDA) of EUR 22.6 million were realized.

Contact:

Investor Relations
Reinhard Hetkamp, CFO and Head of IR
ir@the-platform-group.com
Schloss Elbroich | Am Falder 4 | 40589 Düsseldorf | Germany
corporate.the-platform-group.com



11.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: The Platform Group AG
Schloss Elbroich, Am Falder 4
40589 Düsseldorf
Germany
E-mail: ir@the-platform-group.com
Internet: https://the-platform-group.com/
ISIN: DE000A2QEFA1
WKN: A2QEFA
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1943523

 
End of News EQS News Service

1943523  11.07.2024 CET/CEST

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