21 March 2025
Zhonglu Co., Ltd., a Shanghai Stock Exchange listed company, and Chinese private equity fund, VisionStone Investment, have agreed to acquire a 52% stake in premium racing bicycle company, Factor Bikes, in a deal that values the company around $US70 million.
Coghlan Duffy acted for Factor Bikes in the transaction. The team was led by Partner, Charly Duffy, with support from Senior Associate, Harry Pratt, and Associate, Michael Termine.
Zhonglu owns well-known Chinese bicycle brand, Forever Bicycle, which was founded in 1940. The strategic share purchase and capital investment will see the investors collaborate with Factor Bikes to substantially expand Factor’s business in China and globally.
The transaction is expected to close once the investors receive the necessary outbound direct investment approvals from Chinese regulators.
About Factor Bikes
Founded in 2007, Factor Bikes is a globally renowned premium racing bicycle brand celebrated for its innovative engineering, exceptional performance, cutting-edge design, and superior riding experience. Led by Founder, Rob Gitelis, Factor Bikes counts four-time Tour de France winner Chris Froome, among its investors. Factor Bikes has achieved remarkable success in world class cycling races such as the Tour de France, and was the bike of choice for the Australian national team when they set a new world record and won the gold medal in the Team Pursuit event at the 2024 Paris Olympics.
Charly Duffy | Partner
E: cduffy@cdandco.com.au
Coghlan Duffy is a specialist corporate and commercial law firm based in Melbourne. The firm is proud to work with an enviable list of clients, including prominent Australian start-ups and ASX-listed companies.
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