Pava Partners has advised TIER Mobility SE (“TIER”) on the spin-off and sale of the nextbike business to STAR IV, a fund managed by STAR Capital Partnership LLP (“STAR Capital”).

TIER is the European leader for shared micromobility. nextbike is Europe’s market leader for innovative bike sharing solutions and their integration into public transport. STAR Capital has been successfully investing in European companies with an enterprise value of between EUR 50 million and EUR 1 billion that provide key infrastructure and services to public and private partners since 1999.

With the spin-off, nextbike now becomes independent again and is transformed into a separate legal entity, nextbike GmbH. The transfer of shares from TIER to STAR Capital takes place immediately upon the registration of the company.

nextbike will continue to focus on its growth with STAR Capital. The company has been doing pioneering work for the last two decades and established bike sharing as an integral part of public transport at more than 300 locations. In 2023, the European market leader generated a turnover of around EUR 60 million. The more than 115,000 bikes – spread across 20 countries and more than 300 cities and municipalities – were used around 45 million times.

STAR CAPITAL AND NEXTBIKE

“nextbike is driven by innovation like a start-up and at the same time offers the reliability of an established industry leader. The focus is always on the requirements of the partner cities and customer benefits. We are impressed by what the nextbike team has achieved over the years and see great potential for organic growth and look forward to future developments”, explains Philipp Gensch, Partner at STAR Capital.

“Over the past few years, we have proven to be particularly flexible and innovative. Together with its municipal partners, nextbike has not only established bike sharing as an elementary component of local public transport but has also developed a stable and economically sustainable business model with this format”, adds Simon Stephan, representative of the nextbike management team. “With STAR Capital, we now have an experienced and established partner behind us to continue the success story of nextbike for the next 20 years.”

TIER ABOUT PAVA PARTNERS

“Pava Partners advised us confidently and efficiently throughout this process. The many years of experience and expertise in the mobility sector that Jens’ and Viktor’s team brings to the table paid off here”, elaborates Chris Hadfield, Senior Director Corporate Development of TIER.

OUR ADVISORY FOR NEXTBIKE

Pava Partners has been advising nextbike for several years: on the sale of nextbike to TIER and on a capital increase by Co-Investor.

About TIER-Dott

TIER-Dott is the European champion of shared micromobility, formed in March 2024 with the merger of operators TIER and Dott. Led by CEO Henri Moissinac, COO Maxim Romain and Chairman Lawrence Leuschner, TIER-Dott is on a mission to change mobility for good. Under the TIER and Dott commercial brands, it provides sustainable travel, reduce congestion and pollution in cities by reducing reliance on cars. With operations in Europe and the Middle East, TIER & Dott supports over 125 million trips a year in over 20 countries.

For more information, visit www.tier.app and www.ridedott.com.

About nextbike

nextbike is the European market leader in bike sharing and has been standing for a multimodal and socially fair transport transformation for 20 years. In over 300 locations in more than 20 countries, nextbike has established bike sharing as an elementary component of liveable cities and regions. Integrated into public transport, the company offers millions of users the ideal means of transport for their daily needs with pedal bikes, e-bikes and cargo bikes.

For more information, visit www.nextbike.de/en/.

About STAR Capital

STAR Capital is an investment fund manager focused on developing strategic asset-based businesses in Western Europe. Established in 1999 and primarily investing in businesses with an enterprise value of between EUR 50 million and EUR 1 billion, STAR Capital’s strategy is focused on businesses characterised by strategic qualities that provide strong downside protection.

For more information, visit www.star-capital.com.