Cowboy completes acquisition by ReBirth Group Holding
Brussels-based electric bike company Cowboy has completed its acquisition by French mobility group ReBirth Group Holding, owner of established cycling brands including Peugeot, Gitane and Solex.
The transaction includes €15 million in new capital from ReBirth alongside reinvestment from existing shareholders, securing a majority stake in Cowboy. In addition, the conversion of legacy obligations into equity forms part of a broader financial restructuring designed to stabilise the business and strengthen its long-term position.
The new funding will be released in several stages, with an initial focus on restarting the production and delivery of spare parts. Cowboy confirmed that its community of more than 80,000 riders will continue to receive full support, with all existing bikes remaining fully operational and hardware, software and customer services functioning as normal.
Backed by ReBirth’s industrial capabilities, Cowboy’s production is set to restart at its French assembly facility in the New Year. A reinforced manufacturing schedule is already in place, including a production plan of more than 1,500 bikes in January, aimed at clearing the current order backlog and supporting future demand. Customers awaiting delivery will receive updated timelines in the coming weeks.
While Cowboy bikes have previously been assembled within ReBirth’s French facilities, this next phase marks deeper operational integration. The move is expected to improve quality control, reduce lead times and enhance scalability across ReBirth’s established European and Asian supplier networks, enabling Cowboy to offer shorter and more competitive delivery times from spring 2026 onwards. The integration is also intended to support a return to stable, large-scale production and a pathway to sustainable profitability.
The transaction will also allow Cowboy to leverage ReBirth’s extensive retail and service network, which includes 95 Oxygen stores, 10 Ovelo outlets and around 500 independent bike dealers. This expanded footprint is set to significantly strengthen Cowboy’s presence in France through new retail and service locations in major cities. Currently Cowboy’s fourth-largest market, France is expected to become its fastest-growing territory.
“This transaction opens a new chapter for Cowboy,” said Grégory Trébaol, CEO of ReBirth Group Holding. “Alongside Peugeot, Gitane and Solex, Cowboy becomes ReBirth Group’s flagship brand for connected urban mobility. Combining our industrial strength with Cowboy’s innovation creates a strong foundation for long-term growth.”
Cowboy will continue to operate independently from its Brussels headquarters, retaining its in-house design, engineering and software teams.
Earlier this year, Cowboy confirmed it had secured short-term financing to maintain operations and production, alongside a term sheet with ReBirth Group Holding, supported by existing investors and debt providers, to ensure the company’s long-term future.
