E-load bike sharing provider sigo all jobs saved

Entrepreneur Felix von Borck takes over e-bike sharing provider sigo. Self-management enabled the reorganization. All jobs will be retained.

Darmstadt - The e-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.

Behind the new company is entrepreneur Felix von Borck, founder of Akasol AG, with experience in electromobility and business 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 optimism: "As of now, sigo green is sitting more firmly in the saddle than ever."

Based in Darmstadt, sigo green GmbH is one of the pioneers in Germany in the field of fully automated e-load bike systems and operates in the B2B2C model. The company cooperates with the housing industry and municipalities to advance electromobility. Despite investments, the company had to reorganize as part of a self-administration reorganization process, which was opened in August 2023.

Business operations 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 of PLUTA Attorneys at Law

Self-administration, a court-ordered reorganization procedure in which the company acts under the supervision of a trustee, has proven to be a lifeline for sigo. Lawyers from PLUTA Rechtsanwalts GmbH and the law firm GRUB BRUGGER supported the company during the proceedings. M&A experts from Oaklins were involved in the investor process.

Despite the challenges of the self-administration, sigo was able to maintain its business operations and record numbers of rentals of its e-load bikes in the summer. Interest in the bikes across Germany is steadily increasing.

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

Sylvia Rhein, administrator and RA von der Rhein Rechtsanwälte PartGmbB

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

PLUTA supports companies in legally and economically difficult situations. The company has grown steadily since it was founded in 1982 and today 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.