News. 02/12/24

Procuritas exits its investment in Pierce Group AB (publ)

On Friday, November 29, 2024, Procuritas completed the sale of all its shares in Pierce Group AB (publ) to a limited number of investors including Siba Invest AB.

Procuritas teamed up with the Pierce founders in 2014, attracted by its strong niche and leading market position in the Nordics, with great potential for expansion across Europe. Procuritas has worked closely with the Pierce management team to professionalize the company and drive growth by appointing a new management and entering new markets, building a fantastic assortment and developing the distribution capability.

Procuritas helped the company go public on Nasdaq Stockholm in 2021. Since the IPO, Procuritas has maintained a minority shareholding in the company, which now has been sold.  During Procuritas time as owners of Pierce, the Company has developed into a European e-commerce leader in the motorcycle gear and accessories market and as a result the Company’s net sales has grown 8 times since 2014.

For further information, please contact:

Kenneth Christensen
Head of Financing Procuritas and Board Member of Pierce
kenneth.christensen@procuritas.com

Maria Montgomery
Press contact Procuritas
pr@procuritas.com
+46 70-757 8485

 

 

About Pierce
Pierce is a leading and fast-growing e-commerce company selling gear, spare parts, accessories and streetwear to riders across all of Europe through the online stores 24MX, XLMOTO and Sledstore via some forty websites adapted to the local markets. Pierce has two major segments targeting two different customer groups, Offroad – sales to motocross and enduro riders, and Onroad – sales to riders on paved roads and tracks. Pierce also has a smaller segment, Other, which primarily focuses on sales to snowmobile riders. With a large and unique product assortment, including a number of its own brands, an excellent customer experience and attractive prices, Pierce is changing the motorcycle enthusiast market in Europe. The headquarter is located in Stockholm, Sweden, the central warehouse is located in Szczecin, Poland, and the major portion of the customer support service is located in Barcelona, Spain.

www.piercegroup.com

About Procuritas
Procuritas was founded in 1986 and has a market leading track record of investing in and growing successful companies in the Nordic region. Since its founding, Procuritas has completed more than 50 platform investments and hundreds of add-on acquisitions, resulting in attractive returns for its investors. The firm’s deep experience and operational expertise make it an ideal partner for businesses looking to take a transformational step in their growth journey.

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