GOVECS acquires LiveCycle: On course for further growth with expansion of the service and sales network
Munich, April 2, 2020 – GOVECS AG, Europe's leading manufacturer of electric scooters, acquires the Munich-based service provider LiveCycle as part of an asset deal effective April 1, 2020, tripling its network of sales and service points. LiveCycle is a professional two-wheel service provider in Germany and offers both companies and private customers a comprehensive service, stationary at six key locations, as well as mobile throughout Germany.
The infrastructure and offer of the company, which was founded in 2016 and has already been successfully cooperating with GOVECS, optimally complement the existing structures in the B2C area of GOVECS SCOOTER: In addition to Munich, Berlin and Stuttgart, the increasing demand in conurbations such as Hamburg, Frankfurt and Cologne can now also be met. The acquisition not only ensures a nationwide service network and expanded know-how, but also sustainably supports the strong growth in the private customer area in the e-scooter market.
"We are delighted with the successful conclusion of the deal. In the medium term, we want to build the best service network in Germany for electric scooters and bicycles, both stationary and mobile," says Thomas Grübel, CEO of GOVECS, when explaining the company’s decision. "It is also a positive signal in economically challenging times, as we are currently experiencing. We continue to work consistently on solutions for urban mobility, since it is our particular strength." Grübel continues: "The teams at GOVECS and LiveCycle are highly motivated to share their skills to continue our success story."
- Asset deal strengthens GOVECS for further growth in the best way possible
- Germany-wide sales and service points tripled effectively
- Successful collaboration between GOVECS and LiveCycle proven already
New service points for all two-wheeler customers and additional competencies at GOVECS
By transferring the assets of LiveCycle GmbH to GOVECS AG, GOVECS triples its network of sales and service points at one fell swoop. To date, GOVECS has been distributing its broad portfolio of various e-scooters, such as the ADAC test winner and the cult model Schwalbe, online and in three stores throughout Germany (Munich, Berlin and Stuttgart) via its B2C platform GOVECS SCOOTER. Currently, the demand for nationwide contact points for professional advice, test drives and service work is growing with the increasing demand for e-scooters. For this reason, the new locations in Hamburg, Cologne and Frankfurt are an important step for GOVECS to meet market requirements.
The mobile service with specially equipped vans makes the repair of two-wheelers possible directly at the customer’s location. 30 experienced LiveCycle employees will handle service requests even easier, faster and more efficiently in the future, providing customers with an excellent experience.
GOVECS is thus further expanding its areas of expertise: In addition to the development, production and distribution of electric scooters, the company now also becomes a service provider, not only for its own models but also for any two-wheelers from other manufacturers: The qualified service from a single source applies to various areas such as bicycles, cargo bikes and electric scooters, as well as various target groups such as private customers, sharing providers, delivery services or other organisations. Existing service agreements with major industrial or OEM customers will be continued.
More sales outlets for growing private customer market and targeted expansion at GOVECS
With this acquisition, GOVECS is significantly expanding not only its service network, but also its network of sales offices. In addition to the online shop www.govecs-scooter.com, GOVECS SCOOTER currently has three stores in Berlin, Munich and Stuttgart. In the future, there will be a second location in other parts of these cities. Additionally, customers in Frankfurt, Hamburg and Cologne can now test or buy various electric scooter models from GOVECS or pick-up their electric scooter they have ordered in the online shop.
E-scooters are becoming increasingly popular for urban mobility. For this reason, GOVECS not only consistently develops new e-scooter models for different application areas and target groups, but also gradually implements its expansion strategy: GOVECS aims at higher visibility both nationally and throughout Europe. The company's expertise is based not only on its pioneering work and many years of experience in the industry, but also on future-oriented solutions and tailor-made concepts for urban mobility, which are being made available to more and more people.
About GOVECS
The GOVECS Group is the leading manufacturer of electric scooters in Europe and is developing future-oriented solutions for urban mobility. The company’s success is based on high-quality “Made in Europe” products for international vehicle sharing platforms and on custom-made designs for the rapidly growing merchandise delivery segment. GOVECS is selling electric scooters and accessories to the high-growth private customer segment via its own GOVECS SCOOTER e-commerce platform. The GOVECS product portfolio currently includes the E-Scooter Schwalbe (ADAC Test Winner 2019), ELMOTO LOOP, ELMOTO KICK, GOVECS FLEX, GOVECS PRO and GOVECS PRO CARGO.