IN BRIEF
Placed in receivership in June, O2feel has now emerged from it: in a final ruling on 23 September, the court accepted the internal takeover bid submitted by part of the current management, financially backed by a pool of long-standing investors. According to the press release, only the administrative entity changes, and it now takes the name Cyclofeel. Anthony Lepoutre, previously chief operating officer, becomes managing director, while founder Grégoire Brunet steps down from his operational roles but remains a partner.
Electric bike maker O2feel announced on 30 September the end of its receivership proceedings (redressement judiciaire, a French court-supervised restructuring). According to the company’s press release, reported by SPORTéco, the decision “guarantees the continuity of the business and of the teams” and allows O2feel to pursue its development “within a secured and financially strengthened framework” (quotes translated from the French).
O2feel: a takeover by its own management
In a final ruling on 23 September, the court accepted the internal takeover bid submitted by part of the company’s current management. The bid is financially backed by a pool of the company’s long-standing investors.
For customers, the press release promises unchanged support. According to the press release, only the administrative entity changes, and it now takes the name Cyclofeel.
A new managing director
Anthony Lepoutre, chief operating officer, becomes the company’s managing director. Grégoire Brunet, founder of O2feel and former head of the company, steps down from his operational roles. He remains a partner in the company through his place in the pool of investors, and will provide strategic support.
“We are delighted to be able to secure O2feel’s future. We would like to warmly thank all the teams for their commitment throughout this period,” says Anthony Lepoutre, who adds: “We are now looking to the future with confidence and ambition.”
This exit from crisis comes a few days after that of Starway, whose continuation plan was approved by the Tours commercial court.
