Motor Company announced the successful acquisition of a 75% stake in the Swiss
E-Mobility Group (SEMG). The acquisition reaffirms TVS Motor Company’s
commitment to expansion in Europe through a portfolio of premium and technology
leading brands, including Norton Motorcycles and EGO Movement, which were
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 USD 100M in revenue. The company 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.
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.”
Ralf Speth, Chairman designate, TVS Motor Company, said, “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.”
on, 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 omni channel 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 CONSTELLATIONCAPITAL and Rainer Fröhlich for this
foundation which we will build on.”
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% of the total bicycle population in Europe and growing at a CAGR of ~18%,
the market for the e-bicycle holds significant growth potential.
Fröhlich, 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. The
strategy of having a global leader like TVS as a majority shareholder not only
offers untapped potential in quality assurance and procurement in the global
supply chain but also lays the foundation for future expansion of the group
beyond national borders."
acquisition has been made in an all-cash deal through TVS Motor’s Singapore
Subsidiary, TVS Motor (Singapore) Pte Ltd.
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