[ad_1]
SCHLITTERS, Austria (BRAIN) — Lithium-ion battery manufacturer The BMZ Group acquired e-bike brand Nox Cycles Austria, its sister companies in Germany and Switzerland, and the Hawk Bikes brand.
The BMZ Group has been the battery and motor supplier for Nox e-MTB models and its distributor and online retail partner. The group acquired from Gaby and Carsten Sommer all shares in their holding company SoCo Ltd. with its registered office in Malta. SoCo Ltd. holds 100% of the shares in Nox Cycles GmbH, Nox Cycles Austria GmbH, and Hawk Bike Sales GmbH as well as 50% of Nox Cycles Switzerland GmbH.
“The establishment of our own e-bike production in Tyrol (Austria) since 2017 and the clear focus on ‘Made in Austria’ were courageous, but ultimately the demand has always proven us right,” Carsten Sommer said. “With BMZ, we have now also been able to gain a long-term business partner as a permanent shareholder, whose long-term vision will enable us to scale production and sales even further.”
Both companies said there will be no change to the management, existing customers, core suppliers, and employees.
“Through the strategic forward integration, we intensify our know-how to further increase the enthusiasm for our BMZ products with innovative, customized solutions,” said BMZ Group CEO and founder Sven Bauer.
[ad_2]
Source link