Canyon
Headquartered in Koblenz, Germany, Canyon is a leading direct-to-consumer bicycle retailer and manufacturer of some of the world’s highest-quality road, mountain, gravel, urban and electric bikes. The award-winning company sponsors elite professional cyclists and teams and has a passionate global following.
Our Partnership
Our team first met Canyon founder Roman Arnold at a bicycle industry event in 2013. He was not looking for an investment at that time, but we developed a trusted relationship over the coming years. In 2015, ready for outside investment to help establish Canyon in the U.S., Roman called TSG first. Our minority equity investment was completed in June 2016.
Strategic Focus
TSG worked collaboratively with Roman and the Canyon team to, among other things, launch in the US market, recruit world-class executives, reimagine the company’s e-Commerce and digital marketing experience, expand the product portfolio into high-growth segments, and execute a variety of operational and margin improvement initiatives.
Demonstrated Impact
Canyon’s sales and profitability grew substantially during our partnership. The company’s entry into the US was highly successful and quickly became one of the company’s largest regions by sales. New product categories including gravel and electric bikes were well-received and won numerous awards. Enhanced digital properties including the company’s replatformed website drove improved conversion and unit economics. All of this was achieved by a strong management team recruited to realize the company’s ambitions while maintaining Canyon’s unique culture established by founder Roman Arnold.
We sold our stake in Canyon in 2021 to Groupe Bruxelles Lambert.
