TVS Motor Company has acquired 75 percent stake in the Swiss E-Mobility Group (SEMG). SEMG is a market-leading provider of e-mobility solutions within the DACH region, operating the largest pure-play e-bike retail chain M-way in Switzerland with close to $100 million in revenue.
The acquisition is in sync with company’s expansion plan across Europe through a portfolio of premium and technology leading brands, including Norton Motorcycles and EGO Movement.
Announcing the acquisition, Venu Srinivasan, Chairman, TVS Motor Company, said, “TVS Motor has always been committed to sustainability and has been investing in electric vehicles for over 10 years. The increasing global focus on the environment and personal well-being is rapidly accelerating demand for newer mobility solutions, and TVS Motor is investing to drive this change.”
Sir Ralf Speth, Chairman designate, TVS Motor Company, added that, “TVS Motor is committed to being at the forefront of e-personal mobility globally. SEMG complements our acquisitions of Norton Motorcycles and EGO Movement and strengthens our commitment to environmental sustainability. We offer our customers a compelling portfolio of technologically advanced and environment friendly products.”
SEMG has a prestigious Swiss mobility brands portfolio, including Cilo, Simpel, Allegro and Zenith – Bikes. By combining its extensive physical network and e-commerce platform with two online platforms and 31 physical stores, SEMG is able to deliver a seamless and world-class customer experience.
Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, “This acquisition furthers TVS Motor’s commitment towards e-personal mobility products. We are strengthening our presence in the rapidly growing e-bikes segment. SEMG has strong omnichannel distribution and aspirational brands, including Cilo, Simpel, and Zenith - Bikes. I’m excited to enhance the product range further and scale the company in the DACH region and beyond. I’d like to convey my thanks to constellation Capital and Rainer Frohlich for this foundation which we will build on.”
E-bikes are establishing themselves as the de-facto form of personal mobility in Europe due to the increased ease of usage, regulatory support, and overall perception as a sustainable form of transport. With a current penetration of approximately 15 percent of the total bicycle population in Europe and growing at a CAGR of 18 percent, the market for the e-bicycle holds significant growth potential.
Rainer Frohlich, Founder and Managing Partner, Constellation Capital, emphasises: "In TVS Motor, we have found the ideal and an exceptionally dynamic partner for SEMG to reinforce and expand the Group's position as a market leader.”