Heerenveen, Netherlands - Accell Group N.V. (“Accell”) has reached an agreement with private equity firm Regent LP (“Regent”) for the sale of its loss-making US business including the worldwide registrations of the brands Diamondback, Redline and IZIP. In addition, Accell and Regent agreed on an exclusive 2-year US distribution partnership for the international Accell brands Raleigh, Haibike and Ghost.
The total consideration amounts to US$ 1 and a maximum contingent consideration (potential earn-out) of US$ 15 million. The US business is transferred per August 6th, 2019.
Following the sale of the Canadian brand registrations announced on July 12th, 2019, today’s announcement completes the strategic review of the North American operations and allows Accell to focus on its European (core) business.
Ton Anbeek, CEO Accell Group commented in a press release.“With this announcement, we have completed the strategic review of our North American business. This allows us to eliminate the profit dilution, while we can continue to distribute our global brands to the US and benefit from the growing demand for e-bikes. We look forward to working with Regent as our US distributor and as global supplier of its sports brand Mavic."

Regent is a global private equity firm based in Beverly Hills, California and focused on innovating and transforming businesses.  Last month, the company completed the purchase of Mavic from Amer Sports. Regents other investments include La Senza, Plainville Farms, Sassoon, MasterCuts, Regis UK, SuperCuts UK, Sunset Magazine, Lillian Vernon and a media portfolio comprised of 18 newspapers, magazines and television platforms.