Disrupting at full speed
With three different e-commerce stores, a range of private brands and a European footprint with 70% of its growth outside the Nordics, Pierce is a leader in the sale of parts and accessories for the motorcycle enthusiast.
In 2014, Pierce’s founders realized it was time to grow. Their products were in great demand, but in order to grow further, they needed access to new markets and a broader product range. That would require both a wider range of competencies and access to capital. That’s when the Pierce teamed up with Procuritas.
“We have seen tremendous growth. But growing fast can be quite costly. Through the Procuritas network, we received the financial backing we needed to deliver on our strategy,” says Pierce CEO Henrik Zadig.
Today, in 2021, Pierce operates online stores in 18 European countries selling motorcycle parts and accessories under three brands, each designed for a different type of rider: 24MX, XLMOTO and Sledstore. With offices in three countries, annual sales of EUR 150 million and growth of 30 to 40% year-on-year, Pierce is the largest and fastest-growing MC-focused online retailer in Europe. The company was successfully IPOed in 2021 with Procuritas remaining the largest shareholder.
”All of us signed onto the idea of building a great company.”
“One of the reasons our collaboration has worked so well is that we’ve always been aligned on strategy. When building a company, if you wanting to do what is best for it in the long run, you can’t be shortsighted,” says Zadig.
”Of course, when you have a plan, you want it to play out. And if you veer off track, you need to figure out how to get back on track,” he adds. “At the end of the day, running Pierce is like riding a motorbike: a mix of passion, speed and adventure.”