Caltius Equity Partners has sold its portfolio company Electra Bicycle Company to Trek Bicycle Corporation. Caltius first invested in Electra in April 2007.
Electra Bicycle Company is a designer and marketer of branded leisure bicycles. The company provides bicycles, parts and accessories and other related products to consumers worldwide, primarily through independent bicycle dealers. The company offers a variety of bicycles for men, women and children under its Cruiser, Amsterdam, Townie, Ticino and Verse brands. Electra Bicycle is headquartered near San Diego in Vista, CA (www.electrabike.com).
Trek is a designer and manufacture of bicycles, parts and accessories and related apparel. The company designs and manufactures products in a number of bicycle categories including fitness, cyclocross, touring, cross-country, sport, singletrack trail, fitness and urban utility. The company is headquartered near Madison in Waterloo, WI (www.trekbikes.com).
Caltius Equity Partners makes equity investments of $5 million to $20 million in companies with enterprise values of $10 million to $50 million. Sectors of interest include healthcare services, consumer and business services, light manufacturing and consumer products. The firm is based in Los Angeles (www.caltius.com).
Harris Williams & Co. acted as the exclusive advisor to Electra. The transaction closed on December 31, 2013 and was led by John Neuner, Red Norrie, Ryan Budlong, Matt Conaty and David Bhattacharyya from Harris Williams & Co.’s Consumer Group.
“This transaction demonstrates strategic buyers’ continued appetite for acquiring high-quality lifestyle brands. Electra marks the tenth enthusiast and lifestyle transaction we have closed since the beginning of 2012,” said Mr. Budlong, a director in Harris Williams & Co.’s Consumer Group.
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-9-14
