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KKR facing €1bn loss from pandemic-era Accell bet

privateequitywire

4 months ago

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US private equity giant KKR and its backers are set to hand their remaining stake in Dutch bikemaker Accell Group to the company’s senior lenders following a second debt restructuring in just over a year, marking losses of more than €1bn, according to a report by the Financial Times.
KKR initially invested €1.1bn to take Amsterdam-based Accell private in 2022, anticipating continued growth in e-bike sales after the pandemic. However, weaker-than-expected demand, supply-chain disruptions, and exc...

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