Naxicap Partners-backed Stromer to invest in Desiknio Cycles.

Naxicap Partners-backed Stromer, a manufacturer of e-bikes, agreed to invest in Desiknio Cycles, a Spanish premium bicycle manufacturer. Financial terms were not disclosed. "The Stromer and Desiknio brands complement each other perfectly, both in terms of values and our portfolio, which we can now expand to include e-bikes for urban traffic with electric assistance up to 25 km/h. With stylish design, incredible power and light weight, there is currently no better e-bike for distances up to 15 km in this class. Together with our strong and visionary partner Naxicap Partners, we will continue to consistently pursue our growth ambitions and for this purpose will intensively monitor the developments on the e-bike market," Jakob Luksch, Stromer CEO.