Business
Irish investment firm Quanta Capital plans to acquire Accell
Quanta Capital is considering a bid for Accell Group, which recently went bankrupt. Accell is known for brands such as Batavus and Sparta.
The Irish investment firm Quanta Capital is interested in a potential acquisition of Accell, the parent company of several bicycle brands including Batavus, Sparta, and Babboe. Accell went bankrupt yesterday, prompting Quanta Capital to publicly express its interest.
According to CEO Mel Sutcliffe, Quanta Capital is contemplating a bid to acquire the entire Accell Group. Sutcliffe, who has a background in cycling, has previously raced for the Irish national team and was involved in founding a bicycle retail chain in Ireland, Eurocycles.
The bankruptcy filing of Accell was announced on October 7. This announcement has raised questions about the company's future and the various brands it owns.
Sutcliffe made his comments to both Irish and British media, but no further details about the bidding process or its conditions are currently available.
Quanta Capital is now exploring ways to realize the acquisition of Accell, although the company's bankruptcy presents complications.