Investors back biz seeking to bring carbon frame manufacturing back to Europe
A Belgian manufacturer has secured €7 million in investment cash as part of its bid to provide a competitive carbon frame manufacturing source in Europe.
Rein4Ced has attracted the attention of backers in a funding round led by Capricorn Partners. On the books of the frame maker are already accounts such as the Accell Group, which has chosen the local source or select high-end carbon projects.
Also operating in the aerospace market, Rein4Ced is responding to a demand for manufacturing closer to home as anti-dumping policies on Chinese made products begin to make European sourcing a more appealing option.
With an element of automation on its production lines, Rein4Ced is apparently able to move quickly on production and deliver carbon frame manufacturing flexibility. It is now expected that the fresh capital will enable the business to expand its production availability, as well as develop new innovations or each of its markets served.
“Due to the supply chain problems caused by Covid-19, many European-based bicycle brands have accelerated their strategic search to centralize their operations and are investigating how to bring their production closer to their respective markets,” says Michaël Callens, CEO of Rein4Ced. “We can play an important role in this supply chain improvement. Our goal is to provide our customers with the latest material technologies combined with an automated manufacturing process. Our early involvement in the product design and development process for our customers, which ensures an efficient process and allows their engineers to come up with exciting innovations that go beyond the current state of bicycle technology.”
The investment was carried by the Capricorn Sustainable Chemistry Fund and Quest for Growth, who respectively invested €2.5 and €1.5 million in the company. The Gemma Frisius Fund, Finindus and the Innovation Fund also participated in this round.
Ludwig Goris, senior investment manager at Capricorn says: “At Capricorn we have been following the company since 2017 and are very impressed with the growth this team has achieved. As an investor in chemicals and materials, we know the time and challenges it may take to start a new manufacturing facility from scratch. Today, we are delighted to further support the company in its enhancement and realize the full potential of its unique product offering”.
In the UK, firms such as Apsire have held ambitions to bring bespoke carbon frame manufacturing back onshore in response to far eastern sourcing seemingly becoming less competitive as time passes.