Exit: Johnson Electric becomes a strategic shareholder in Pendix 

TGFS

25 Oktober 2022

After the drive manufacturer Pendix GmbH completed the acquisition of VSC Bike GmbH earlier this year, there is now another exciting development in the shareholder structure. Johnson Electric has acquired a majority stake in the company and will assist Pendix in further growth. 

Pendix GmbH was founded in 2013. In the same year, TGFS Technologiegründerfonds Sachsen became a seed investor in the company. Subsequently, the company received support from four financial investors, allowing it to become a significant player in the bicycle market. Their shares have now been acquired by Johnson Electric. 

„With the majority shareholding in Pendix, we aim to establish access to the E‑Bike market. It was important to us to invest in a company that brings expertise in both the market and E‑Bike drive technologies,“ says Andrea Straniero, Division Vice President IPG Europe of Johnson Electric. Furthermore, he adds: „We are excited that Pendix and Johnson Electric are also culturally aligned. Together, we see significant potential to develop sustainable drive solutions for bicycle manufacturers and to offer them in the future.“ 

Together, Pendix and Johnson Electric will develop a new integrated mid-mounted motor for bicycle manufacturers, set to be released in 2025. The cargo bike segment under the brand VSC.BIKE is also planned to be further expanded. 

Thomas Herzog, CEO of Pendix GmbH, looks positively towards the future: „For us, the five founders, ensuring the long-term security of our company has been important from the very beginning. Our previous investors have been supportive of start-ups, backing us sustainably and financing our growth. With Johnson Electric, we secure the future of the company through the long-term expansion of our product range. Additionally, it opens up the opportunity for us to work on scalable drive concepts for the E‑Bike market. This allows us to leverage the expertise of both our companies, Pendix and VSC, and in the future, tap into the global resources of Johnson Electric while maintaining our consistently high quality standards.“ 

Sören Schuster, Managing Director of TGFS, is pleased with the positive outcome of the investment: „Leading a Saxon start-up from its inception to international recognition is highly gratifying and demonstrates the international appeal of theSaxony region.“ 

Your contact
Sören Schuster | Managing Director
+49 341 256963 30
soeren.schuster@cfh.de

Deal team TGFS
Friedemann Stier and Thomas Dörffel

Advisor TGFS
GRUENDELPARTNER (legal)