Shimano grabs minority share of EU bike service business

Shimano has taken a minority share of a European bike servicing business called Get Bike Service.

The business was founded and run by a familiar name in this on the road servicing arena, Ward Grootjans, a former Velofix Europe employee that went on to found Get Bike Service three years ago with help from Limburg investment company LIOF.

Neither party has disclosed the sum involved, but Shimano’s investment is placed within a business that has contracts with major businesses such as DHL and PostNL, both of whom operate fleets of cargo bikes in Europe. What’s more, it offers last mile delivery and service for brands that have always sold direct to consumer, most notably Canyon.

Get Bike Service has also carved out a niche as a partner for brands in executing and servicing product recalls, reports Nieuwsfiets.

Grootjans wrote yesterday: “When we started Get Bike Service 3 years ago we had a strong vision on service: a dot on the horizon. That dot has moved and we still have a lot to do to get there.

“These are journeys you start alone, but can’t finish without a team. And what a team we have: More than 65 colleagues from Copenhagen to Munich. Without you GBS is just an empty shell.

“Thank you loyal partners who have believed in us, have given us the chance to proof what we can do: Your trust has brought us where we are now and we are very proud to work with you.

“Thank you LIOF for being there as an investor from day 1 and thank you Shimano for joining the team! Together we will make sure we land on the dot!”

Dennis Ohlen, investment manager at LIOF welcomed Shimano’s backing, stating “We are proud to announce that Shimano is joining as a shareholder in this fast-growing LIOF participation. This match with Shimano enables Get Bike Service to accelerate their services to a European level.

“GBS is one of our fastest growing portfolio companies. We see a good match with Shimano as a strategic investor and shareholder, both companies share the same values in terms of quality, service and durability. With this collaboration, both companies are able to improve the business operations of GBS to European level, which will have a major impact on replacing environmentally harmful vans due to light electric vehicles. This is fully in line with the ambition from LIOF to contribute to a smarter, sustainable and healthy society.”