ACCELL GROUP

Heerenveen, the Netherlands – Accell Group (Accell) is pleased to announce it has signed a 4-year partnership contract with Dutch cycling team Team Picnic PostNL. Accell’s high-performance and innovative cycling brand Lapierre will be the bike partner for the team. XLC, Accell’s European brand of bicycle parts and accessories, will provide the riders with a range of accessories and everything they need for their travel. The partnership takes effect on 1 January 2025.

Heerenveen, the Netherlands – Accell Group (Accell), a leading European bicycle manufacturer, is pleased to announce the validation of its greenhouse gas emissions reduction targets by the Science Based Targets initiative (SBTi). The targets are in line with the Paris Climate Agreement.

Heerenveen, the Netherlands - Accell Group (Accell) has invited all its suppliers to participate in a free Climate Action Training course designed for the cycling industry, aiming to reduce greenhouse gas emissions across the industry's global supply chains.

Heerenveen, the Netherlands - Accell Group (Accell) is pleased to announce it has secured sufficient support from its key stakeholders to proceed with implementation of the recapitalisation. The recapitalisation creates a sustainable financial and operational platform for Accell to execute its strategy. Approximately 80% of Accell’s senior term and revolving facility lenders have committed their support for the recapitalisation, while Accell’s other key creditors unanimously back the plan. With this, Accell has reached the required approval thresholds for the implementation of the transaction by way of a UK Scheme of arrangement.

Heerenveen, the Netherlands - Accell Group (Accell) today took an important step to improve its financial position and reduce its corporate debt by reaching an agreement with a majority of its financial stakeholders. Implementation of the recapitalisation is expected by early Q1 2025. The transaction will lead to a reduction of Accell’s debt by approximately €600 million, or around 40% of the total debt, from approximately €1.4 billion to approximately €800 million in the operating group. The transaction provides for additional cash funding to the business of approximately €235 million. The maturity of the group’s recapitalised debt is extended to 2030. This transaction provides Accell with a sustainable financial structure, a strengthened liquidity position and an ability to invest in the business’ future.