Linklaters advises the agent and lenders on Accell Group’s successful recapitalisation

Linklaters has advised global debt administration and loan agency, GLAS, as agent, and a consortium of lenders under an asset-backed facilities agreement in connection with the successful recapitalisation of Accell Group, a European market leader in e-bikes and the second-largest in bicycle parts and accessories.

The recapitalisation involved amendments to the group’s existing asset-backed facilities agreement, including an extension of its maturity date and the provision of a facility upsize. These changes aim to stabilise Accell Group’s financial position as part of a wider recapitalisation transaction. The recapitalisation was implemented following the sanctioning by the English High Court of a Scheme of Arrangement on 23 January 2025. This followed a supportive vote and agreement reached with the majority of Accell’s financial creditors since October 2024.

Linklaters drew on its market-leading restructuring teams across Amsterdam, London, and Frankfurt to deliver a seamlessly coordinated and cross-border legal service. The team was led from Amsterdam by Banking partner Paul Kuipers, supported by counsel Marc Noldus and managing associate Douglas Gibbs, alongside associates Karel Nihom and Matijs Nijkamp. In Frankfurt, they were supported by counsel Fabian Neumeier. Restructuring & Insolvency partner Liam Robinson provided support from London.

Linklaters was supported by WolfTheiss who acted as Hungarian law counsel.