Suma Capital has taken a 49% stake in BERRIA BIKE S.L., a company specialised in manufacturing and selling high-end bicycles. The transaction was done through the SC Growth Fund II fund, specialised in investing in high-growth SMEs. With this deal, Suma Capital will contribute to developing the Berria Bikes’ business plan, focused on the development of new mobility both domestically and internationally. The company closed 2022 with a turnover of €16 million, 55% more than the previous year, and 35% of its sales were recorded outside Spain.
“We are excited to join such passionate founders as David Vitoria and Jose Vitoria in their goal of consolidating Berria Bikes as one of the top 10 European bicycle brands. Suma Capital will bring all its expertise to ensure the sustainable growth of the company, both organically and through acquisitions. In addition, we will implement financial, organizational and environmental best practices,” said Suma Capital in a statement.
Gómez-Acebo & Pombo advised the shareholders of Berria Bikes and the company, on the drafting and negotiation of Share Purchase and Sale Agreements, and Investment Agreement and Shareholders’ Agreement, as well as on the relevant corporate agreements and senior management contracts, in connection with the acquisition with a team made up of Corporate of counsel Miguel Ángel Melero Bowen, together with lawyers Miguel Azpeitia de la Torre, Iván Escribano Ruiz and Laura Castillo Navarro.
Suma Capital was advised by Bufete Castilla, with a team led by managing partner Javier Delgado Planás.