Hyperdrive
Troubles at KKR’s Dutch Bikemaker Push Lenders to Seek Advice
- Accell Group is working with lawfirm Kirkland & Ellis
- Company is having operational issues and burning cash
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Lenders to KKR & Co.-controlled Accell Group NV have chosen advisers to help them assess options for the Dutch bikemaker which is burning through cash amid sluggish demand and operational challenges, according to people with knowledge of the matter.
A group of holders of the company’s term loan B have selected investment bank Houlihan Lokey Inc. and law firm Milbank LLP as advisers, while Accell is working with law firm Kirkland & Ellis LLP, the people familiar said, asking not to be named discussing private information.