Login to access your exclusive member-only content and account information.


Not a member? Join us

  • Operate to the highest level of professional standards
  • Access authoritative industry research and data
  • Navigate the complex EU regulatory environment
  • Network and engage with industry leaders
Private equity in action - Case Study


Back to results
Country Germany
Region Sachsen
Investor The Riverside Company

Over just three years, Bike24 became a global e-commerce player in cycling and fitness with Riverside’s investment and support. The transformation was achieved through a significant investment and Riverside’s knowhow in developing a mobile version of the web site and in warehouse automation, which enabled faster shipping times and more efficient inventory management. This, combined with a professionalisation of Bike24’s systems, a strengthened management team and capital improvements, ensured the business almost doubled in size under Riverside’s ownership. The success of the deal was underpinned by a strong partnership between the private equity investor and an outstanding and entrepreneurial leadership team.

Andrés Martin-Birner

Co-Founder and CEO


It has been a hugely successful partnership with Riverside, who helped us bring our business to the next level thanks to bold investments, strengthening our team and professionalisation of our organisation. Quotation Marks Graphic

annual sales growth over three years


jobs created

What did the business need?

  • Better website functionality and Google search results
  • Improved warehousing and inventory
  • More professional financial reporting

How did private equity backing create lasting value?

  • Invested significant capital to automate warehouse, expediting shipping and enhancing inventory management.
  • Hired logistics expert with Amazon experience to further improve warehousing and infrastructure processes
  • Provided support through Riverside operating partner with prior online consumer goods experience, who led improvement efforts
  • Developed a better and more mobile-friendly website
  • Strengthened management team through addition of new, highly experienced CFO

What outcomes did private equity investment achieve?

  • Grew sales annual by 22.7% during three-year ownership
  • Improved EBITDA by 57%
  • Grew in core markets while expanding internationally
  • Added 100 employees
  • Attracted buyer that created the world’s largest online bicycling retailer

More information


Watch this video about the investment


What can I do to manage cookies stored on my computer or phone?

You can accept or refuse cookies. Accepting cookies is usually the best way to make sure you get the best from a website.

Most PCs automatically accept them but you can change your browser settings to restrict, block or delete cookies if you want. Each browser is different, so check the 'Help' menu of your particular browser (or your mobile phone's handset manual) to learn how to change your cookie preferences. Many browsers have universal privacy settings for you to choose from.

Help on how to set and customise your cookie settings for your browser

How to manage cookies in Internet Explorer

Cookie settings in most versions of Internet Explorer can be found by clicking the tools option and then the privacy tab.

How to manage cookies in Firefox

Cookie settings in Firefox are managed in the Options window's Privacy panel. See Options window - Privacy Panel for information on these settings.

How to manage cookies in Chrome

Click on the spanner icon on the toolbar, select settings, click the under the bonnet tab, click on content settings in the privacy section.

How to manage cookies in Opera 

You can manage cookies in Opera if you Click on settings, then Preferences, then Advanced and finally Cookies

How to manage cookies in Safari

Choose Safari, then preferences and then click security. You should then be able to specify if and when Safari should accept cookies.

To manage cookies on your mobile phone please consult your manual or handbook.

Get more help about how cookies work with specific browsers.

What happens if I don't accept cookies?

If you decline cookies, some aspects of Invest Europe site may not work on your computer or mobile phone and you may not be able to access areas you want on the website. For this reason we recommend that you accept cookies.

What happens if I delete my cookies?

If you delete all your cookies you will have to update your preferences with us again and some aspects of our site may not work.

What happens if I change computers or mobile?

If you use a different device, computer profile or browser you will have to tell us your preferences again.

If you'd like to learn more about cookies in general and how to manage them, visit

We can't be responsible for the content of external websites.

Opt-out of cookies


Join today

This is for members only. To view in full login or join Invest Europe today.