KOBLENZ, Germany (BRAIN) — KKR & Co. and Carlyle Group are among the private equity firms looking at Canyon Bicycles, according to a Bloomberg report citing sources who asked to remain unidentified. A division of KKR was part of last month's $450 million investment in the indoor cycling app Zwift.
Canyon announced last month that one of its major investors, TSG Consumer Partners LLC, was looking to exit the company and that Canyon was seeking recapitalization.
According to Bloomberg, "Canyon is also attracting buyout firms Advent International, Apax Partners, General Atlantic and Permira." The sources said Canyon could sell for more than 500 million euros ($592 million).
