• Acquisition is the first step in GMH’s international expansion strategy
• Previous owners of o2o become shareholders in GMH
• GMH plans further expansion in Europe and growth in Germany
7 September 2023
Munich/Ghent – Green Mobility Holding (GMH), one of Europe’s leading technology-enabled (e-)bike leasing groups, is joining forces with o2o, a key player in the Belgian market. As part of the transaction, o2o’s previous owners will receive shares in GMH.
o2o is among the market leaders for bike leasing in Belgium. Its customer base includes over 1,000 firms with a total of more than 200,000 employees having access to bike leasing. The latter can choose their desired bikes from more than 1,200 bicycle dealers as well as online businesses across Belgium.
GMH is among the leading bikeleasing players in Germany and employs more than 200 employees. The acquisition of o2o will add a further 45 employees in Belgium. Last year, GMH generated revenues of around 140 million euros through its brands Company Bike and mein-dienstrad.de. The company is the only bike leasing provider offering direct OEM access as well as its own delivery and service network with more than 60 employees. GMH’s corporate clients include, for example, Deutsche Telekom, Daimler Truck, Eurogate, Funke Mediengruppe, Johanniter, and numerous SMEs.
“The acquisition of o2o is our first step into the European market outside Germany,” said Maximilian Acht, CEO of Green Mobility Holding. “We are pleased that o2o’s founders and the rest of its management team will remain on board and continue contributing to its success.”
“In GMH, we have found the perfect partner to help us further expand our operations in Belgium and to continue capturing the fast-growth of the market,” said Geert De Rycke, CEO of o2o. “We share the same goal as GMH, namely to enhance employee mobility through cost-effective, low-barrier leasing options. The two companies are a perfect match for one another.”
“When we acquired GMH in July, we announced our intention of providing it with the capital and strategic expertise to continue growing and expanding its business operations across Germany and the rest of Europe. The acquisition of o2o represents the first milestone along this path,” said Matthias Wilcken, Senior Partner at Rivean Capital.
About Rivean Capital
Rivean Capital is a leading European private equity investor in SMEs operating in the DACH region (Germany, Austria, and Switzerland), the Benelux countries, and Italy. Funds advised by Rivean Capital manage more than five billion euros of investments. Rivean Capital has offices in Frankfurt, Zurich, Amsterdam, Brussels, and Milan. Since its establishment in 1982, Rivean Capital has helped more than 250 companies achieve their growth targets.
For more information, visit www.riveancapital.com
Contacts for media representatives:
o2o
Caroline van Even
Chief Commercial Officer
E-Mail: caroline.van.even@o2o.be
Rivean Capital
Maikel Wieland
Head of Investor Relations
Email: m.wieland@riveancapital.com