In April 2025, the Finnish specialty bicycle retail chain Cycle Group Oy expanded into Lappeenranta by acquiring the business operations of the well-known Pyöräliike Varustamo Oy. In this corporate transaction, Mergero acted as the financial advisor to the buyer, Cycle Group Oy.
Cycle Group Oy has experienced rapid growth in recent years – its revenue has increased eightfold in three years to €19.7 million, and the chain has expanded to eight cities. The latest expansion to Lappeenranta is part of Pyörävarikko’s strategy to build a nationwide retail network serving cyclists.
The business acquisition between Cycle Group Oy and Pyöräliike Varustamo Oy strengthens Pyörävarikko’s position in Southeast Finland and enables the provision of high-quality cycling products and maintenance services to a broader customer base. The chain’s eighth store will open in Turku in May 2025.
“We want to serve our customers even better and bring quality service and a comprehensive product selection closer to cyclists. The new stores in Turku and Lappeenranta are a key part of our strategy to build a strong and comprehensive nationwide retail network,” says Eerik Tölli, CEO of Pyörävarikko.
Mergero – A Trusted Partner in M&A Transactions
Mergero acts as an advisor in both domestic and international mergers and acquisitions. The transaction between Cycle Group Oy and Pyöräliike Varustamo Oy is an example of Mergero’s expertise and capability in supporting growth companies in their strategic expansion.