Accell Group lands a new deal to restructure debt

Accell Group

Accell Group has agreed a second debt restructuring in little more than a year, with its majority owner, equity firm Kohlberg Kravis Roberts & Co (KKR), transferring control of the Dutch bike group to its "supersenior lenders" in exchange for fresh funding and a further reduction in debt.

The agreement avoids an insolvency or liquidation scenario that some lenders had feared. Accell, the owner of multiple bike brands including Raleigh, Lapierre, Haibike and Babboe, announced the deal on 18 February statement, but did not share details of the lenders, and said the full transfer is expected to take effect in the coming weeks.

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