Stromer separates from BMC following Swiss cash injection

Stromer has separated from the parent BMC having secured fresh investment from a Swiss investment group.

The undisclosed sum allows the electric bike specialist to ramp up its ambitions to create a “digital bike”, said the company founder and co-owner Thomas Binggeli.

Stromer became part of the BMC group in 2011, though BMC’s owner Andy Rihs had made it known in recent years that a buyer was sought to take the brand forward.

The deal announced last week brings to the table cash from Stefan Schwab who made his fortunes in the watch industry and Ruedi Noser of the Noser Group, as well as a handful of other private investors. Both Rihs and Binggeli remain majority stakeholders.

For Stromer a growing export business means that three quarters of sales are made internationally. According to Bike Europe, the firm sold 10,000 electric bikes in 2016, generating some 30 million Swiss Francs.

The digital bike planned for the future is likely to have the capability to “learn” about the rider’s riding and adapt accordingly, as well as build in anti-theft and many other digital functions.