Paris-based Tikehau Capital, an alternative asset management company, announced on Thursday, July 20, that it has signed an agreement to acquire a majority stake in CROWD, CReators of the Outside WorlD.
CROWD is a pan-European producer of cycling infrastructure and sustainable street furniture established in the Netherlands with a major presence in the DACH Region, and is backed by Convent Capital, an Amsterdam investment firm.
Encouraging people to go outside
Founded in 2014, CROWD designs and manufactures premium cycling infrastructure, public shelters and street furniture, with an emphasis on circularity and digital city solutions.
CROWD aims to make a conscious contribution to the living environment of people by developing products through their companies Velopa BV, Cyclepods Ltd, Ziegler Metallbearbeitung, Ijslander BV, Lumiguide B.V, Bailey Street Furniture Group, and HITSA A/S.
The company claims to have grown rapidly via organic expansion and smart acquisitions to become a major pan-European leader in the sector with “exceptional” market shares in DACH, Benelux, the UK, and the Nordics.
In 2022, CROWD had over €120M in sales and approximately 500 employees.
The company was founded by Convent Capital back in 2014 which has been actively involved in building CROWD into a leading player. Tikehau Capital’s acquisition of CROWD represents Convent Capital’s third exit from its initial investment fund, which was launched in 2011.
Aim of the acquisition
Emmanuel Laillier, Head of Private Equity at Tikehau Capital, says, “CROWD has outperformed the European market and is well positioned to continue its growth trajectory, thanks to its innovative product offering, which supports the shift towards greener spaces and growth of low-carbon mobility.”
“We look forward to working with CROWD’s management team in its next chapter of development and expansion, and we are confident in our ability to leverage Tikehau Capital’s global network and expertise to support the company in its strategic objectives.”
“This cross-border deal showcases the strength of our multilocal setup as our private equity teams from Germany, France, and Benelux collaborate in their endeavour to achieve this significant operation,” adds Laillier.
Partnership with Tikehau Capital
Tikehau Capital’s investment in CROWD will help the Dutch company in its expansion plan. The investment firm will give CROWD operational and strategic assistance to help solidify its market-leading position.
Tikehau Capital’s investment will be made under its private equity decarbonisation strategy and will be the firm’s 12th to date.
The first vintage of this €1.4B strategy, launched in 2018 in cooperation with TotalEnergies, is one of the largest private equity vehicles dedicated to assisting SMEs that are driving the economy’s decarbonisation.
Tikehau Capital has €39.7B in assets under management and its experience spans four asset classes, private debt, real assets, private equity, and capital markets strategies, as well as multi-asset and “special” opportunity strategies.
James Steward, CEO of CROWD, says, “Tikehau Capital’s investment marks a truly defining moment for us all at CROWD! With the combined resource, network and support from the private equity decarbonisation strategy, we will be able to accelerate our efforts across all areas ensuring the continued facilitation of the micro-mobility shift within the built environment and public domain.”
“Additionally, it will allow us to continue to furnish the outside world, encouraging public socialisation, interaction and movement. CROWD’s entire management is fully committed and excited to start this next chapter with Tikehau Capital.”
“With a clear focus on expanding into new territories, making internal investments, and improving within manufacturing, insourcing and operational excellence, we aim to enhance intercompany trading and expand our group platform in marketing, finance and ICT,” adds Steward.
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