DGAP-Adhoc : Brockhaus Capital Management AG: BCM AG signed purchase agreement to acquire majority stake in digital B2B leasing platform Bikeleasing - Forecast for fiscal year 2021 significantly increased

DGAP-Ad-hoc: Brockhaus Capital Management AG / Key word(s): Takeover/Forecast 
Brockhaus Capital Management AG: BCM AG signed purchase agreement to acquire majority stake in digital B2B leasing 
platform Bikeleasing - Forecast for fiscal year 2021 significantly increased 
16-Jun-2021 / 03:03 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a 
service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
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BCM AG signed purchase agreement to acquire majority stake in digital B2B leasing platform Bikeleasing - Forecast for 
fiscal year 2021 significantly increased 
Frankfurt am Main, June 16, 2021. Brockhaus Capital Management AG (BKHT, ISIN: DE000A2GSU42, "BCM AG") has signed a 
purchase agreement today for the acquisition of a majority stake in Bikeleasing-Service GmbH & Co. KG ("BLS" or 
together with its affiliated companies "BLS Group"). 
As part of the transaction, the current managing shareholders retain a significant stake in BLS through a re-investment 
in the acquisition company. In addition, it is planned that the founders also invest at the level of BCM AG by way of a 
capital increase through contribution in kind. Taking into account this re-investment, BCM AG will approximately hold a 
60% share in the acquisition company. 
Based on an enterprise value of BLS Group of approximately EUR 300m and subject to typical price adjustment mechanisms at 
closing of the acquisition, the purchase price attributable to BCM AG amounts to approximately EUR 167m. This is to be 
financed from available cash as well as through a capital increase with shareholders' subscription rights, which is 
expected to be carried out in the second half of this year. BCM AG reserves the right to decrease its stake in the 
acquisition company to 50.1% in favor of co-investors and to secure parts of the purchase price via bridge financing. 
The closing of the transaction is subject to financing as well as a number of closing conditions. Since Hofmann Leasing 
GmbH, a leasing company, is part of BLS Group, the transaction requires, among other things, the successful completion 
of ownership control procedures by the German Federal Financial Supervisory Authority (Bundesanstalt für 
Finanzdienstleistungsaufsicht, BaFin). 
Established in 2015, BLS (www.bikeleasing.de), together with its subsidiaries, operates a leading digital B2B leasing 
platform for green assets. The business model is based on the highly automated management of company bike leasing 
contracts, which allows employees of a company to obtain bicycles and e-bikes by way of gross salary conversion and 
therefore benefit from a tax subsidy. The complete process, from onboarding of the B2B customer, employees ordering the 
bicycle from retailers, through to the processing of damage claims is carried out via the inhouse digital platform or 
mobile app. As innovation leader in the company bike market, the company has recorded strong and highly profitable 
growth since its foundation and was able to continuously increase its market share. Beyond company bikes, the existing 
digital platform and broad customer base can be expanded to include other leasing objects, paving the way to evolve 
into a fully comprehensive social benefits platform. 
As a result of the acquisition, BCM AG is raising its forecast significantly and now expects for fiscal year 2021 pro 
forma revenue of between EUR120m and EUR130m and an adjusted EBITDA (pro forma) of approx. EUR 34m (adjusted EBITDA margin 
between 26% and 28% pro forma). This forecast is subject to considerable uncertainty, as mid-sized BLS Group has until 
now reported in accordance with German GAAP (HGB) and a reconciliation of the financials to IFRS is necessary. Leases 
in particular usually lead to substantial accounting adjustments when presented in accordance with IFRS. The forecast 
is therefore subject to the yet to be finalized reconciliation to IFRS. 
The forecast performance indicators are pro forma values. This means that earnings of the Group are presented as if the 
acquisition had already taken place on January 1, 2021. For definitions of alternative performance measures, please 
refer to page 73 of the 2020 Annual Report of BCM AG, which can be found at https://ir.bcm-ag.com/websites/brockhaus/ 
English/3000/publications.html. 
 
Contact details 
For investors: 
Brockhaus Capital Management 
Paul Göhring 
Head of Investor Relations 
Phone: [phone] 
E-Mail: [e-mail] 
For media: 
USC 
Svenja Lahrmann 
Phone: [phone] 
E-Mail: [e-mail] 
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16-Jun-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and 
Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      Brockhaus Capital Management AG 
              Thurn-und-Taxis-Platz 6 
              60313 Frankfurt am Main 
              Germany 
Phone:        [phone] 
Fax:          [phone] 
E-mail:       [e-mail] 
Internet:     http://bcm-ag.com 
ISIN:         DE000A2GSU42 
WKN:          A2GSU4 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1208393 
 
End of Announcement  DGAP News Service 
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1208393 16-Jun-2021 CET/CEST

 
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June 15, 2021 21:05 ET (01:05 GMT)