Private equity group Ardian has acquired a majority stake in YT Industries to invest in the bike industry's growth and expand YT's market in Europe and the US.
Last fall, YT appointed former Amazon country manager
Sam Nichols as the new CEO, replacing co-founder Markus Flossmann. Flossmann then took the title of CVO, or Chief Visionary Officer, and continues to direct the brand and product identity. The change was, in part, a response to the heightened demand from the COVID bike boom, and a decision aimed to help the direct-to-consumer company expand by bringing in someone with extensive experience in developing e-commerce platforms. Now, YT says investment from Ardian will help the brand to grow further.
According to Nichols, YT has been moving at "full speed" to put more focus on customers and make data-driven decisions, which he says will help the brand to anticipate and meet demand, bringing new products to market "at the right time." Ardian executive Dirk Wittneben likewise said that YT has been making effective business decisions and backing from Ardian will help the brand to capitalize on the bike industry's recent explosion.
The transaction remains subject to authorization from competition authorities, and the financial details of the transaction have not been made public.