After going bankrupt, this electric bicycle manufacturer took advantage of the situation and acquired one of the brands from this defunct corporate group
22/10/2026 11:30
Updated to
22/10/2026 11:30
The origin of this sensational sale comes from the bankruptcy proceedings of one of the most significant bicycle groups to date, Accell Group. Its restructuring processes began in mid-2026 following clear insolvency. Sparta (Netherlands), a brand with over 100 years of history founded in 1917, has been acquired by another prominent brand from the same country, though much younger (founded in 2021): Tenways.
"We are honored to combine our legacy with Sparta’s rich heritage, respecting its history and preserving its distinctive identity." (Tenways).
This transaction is a separate sale, not a direct integration with other sister brands within the Accell group. Although details such as specific production timelines or the relaunch of models have not yet been disclosed, Tenways, based in Amsterdam, aims to preserve Sparta’s identity and long-standing tradition.
"This is an important step for Tenways, and we approach it with great respect for Sparta’s heritage," says Amir Fazeli, CEO of Tenways Technovation Europe B.V. "As a young brand, we have much to learn from a name with such a long history in cycling. We hope to build upon this legacy with care and a long-term commitment to the cycling community," he adds in the press release.
What happened to Acell Group?
The financial crisis it faced, despite being sold at the time to DuTech, a major Singaporean conglomerate, led Acell Group to insolvency in mid-year, prompting it to apply for bankruptcy protection. The debt was quite substantial, reportedly reaching almost 1.4 billion euros.
The problems, which many manufacturers have faced recently include: excess inventory post-pandemic, declining demand and thus revenue, heavy financial debt, quality issues, as well as recalls or failed product rescues — all of which are part of this long list.
A similar approach
Returning to the news about Sparta’s sale to Tenways, both companies share the commonality of currently focusing on electric bike manufacturing. Their approaches are very similar, as the models offered by both manufacturers are primarily designed for urban use. This will enable Tenways to quickly transfer its expertise to the newly acquired company.
Tenways has managed to infuse its bicycles with a strong and distinctive identity in just a short time, where design plays a key role alongside highly advanced technical solutions. Additionally, they pride themselves on being a company deeply committed to the environment, which has made them very popular, especially in Central Europe where such awareness is highly valued. They have reached an agreement with Just One Tree, donating 1 pound for each bicycle sold—the foundation will plant a tree for every pound received.