Canyon Bicycles, a direct-to-customer manufacturer of premium bikes in Koblenz, Germany, has announced that a strategic investment has been made in the company by LRMR Ventures, the family office of LeBron James and Maverick Carter, and SC Holdings, a private equity and strategic advising company.
The €30m investment puts Canyon’s valuation at €750 million. The funds will be used to help the company expand in the US market.
Commenting on the investment, Canyon’s CEO Nicolas De Ros Wallace said:
“LeBron is one of the biggest athletes globally, and he truly cares about cycling. James’ expertise in the U.S. sports and retail markets make the partnership the perfect match.”
American Sports Marketing Businessman Maverick Carter also stated:
“As an avid cyclist and storyteller, I’m excited about partnering with Canyon.
The quality of the products, the power of the Canyon brand, and the unique distribution model create a lot of compelling opportunities we want to be a part of.”
Founder and Chiarman of Canyon Bicycles Roman Arnold added:
“While we were not actively looking for new investors, LRMR and the SC team immediately understood our mission to build the world’s most inspiring and innovative bike company. Their passion for what we are building will make them instrumental members of our team.”