E-cargo bike sharing provider sigo saves all jobs

Entrepreneur Felix von Borck takes over e-cargo bike sharing provider sigo. Self-administration made the restructuring possible. All jobs will be retained.

Darmstadt - The e-cargo bike sharing provider sigo has found an investor solution. The newly founded sigo green GmbH is taking over the business operations as part of a transferring reorganization, with all jobs being retained. The parties have agreed not to disclose the purchase price.

The new company is backed by entrepreneur Felix von Borck, founder of Akasol AG, who has experience in the fields of electromobility and corporate development. He plans to support the new sigo green with know-how and new management. Von Borck sees potential for the start-up and expressed his optimism: "From now on, sigo green is more firmly in the saddle than ever."

sigo green GmbH, based in Darmstadt, is one of the pioneers in Germany in the field of fully automated e-cargo bike systems and operates in the B2B2C model. The company cooperates with the housing industry and local authorities to promote electromobility. Despite investments, the company had to reposition itself as part of self-administration restructuring proceedings, which were opened in August 2023.

Business operations have continued in recent months. At the same time, we have been working on a future solution for sigo. The agreement that has now been reached is a solution for the company.

Philip Konen from PLUTA Attorneys at Law

The debtor-in-possession proceedings, a court-ordered restructuring procedure in which the company operates under the supervision of a trustee, have proved to be a lifeline for sigo. Attorneys from PLUTA Rechtsanwalts GmbH and the law firm GRUB BRUGGER supported the company during the proceedings. The M&A experts from Oaklins were involved in the investor process.

Despite the challenges posed by the debtor-in-possession proceedings, sigo was able to maintain its business operations and achieved record figures for the rental of its e-cargo bikes in the summer. Interest in the bikes is growing steadily across Germany.

The new sigo has good prospects for the future. I am pleased with the progress of the self-administration proceedings.

Sylvia Rhein, trustee and lawyer from Rhein Rechtsanwälte PartGmbB

The company has developed its own cargo bikes specially adapted for rental. These bikes are charged stationary at inductive charging stations and are available to users at any time thanks to an app. sigo not only offers the e-cargo bikes and the app, but also installs the charging stations, provides customer support as well as maintenance and servicing. The sharing model contributes to the attractiveness of the neighborhoods and supports traffic calming and climate protection in the cities.

PLUTA supports companies in legally and economically difficult situations. The company has grown steadily since it was founded in 1982 and now employs around 500 people in Germany, Spain and Italy. PLUTA belongs to the top group of reorganization and restructuring companies and is known for providing solutions for companies in crisis or insolvency situations.