Cherry Tree Advises Lectric eBikes on an Investment by Bertram Capital
Rapidly Growing Provider of eBikes
Recapitalization and Growth Capital
Lectric was advised by Cherry Tree & Associates, LLC, due to its specialization in serving high growth consumer products companies. Taft, Stettinius, and Hollister LLP served as Lectric’s legal counsel.
About Lectric eBikes
Lectric eBikes: Lectric is the among the largest and fastest growing e-bike brands in the United States. Lectric’s bikes feature functional designs, brand name components, and a growing complement of accessories. The XP, Lectric’s flagship model, has been widely praised as the best e-bike under $1,000. The Company sells all of its bike models directly through its website, and customer questions and feedback are addressed by a knowledgeable US-based customer service team. Lectric was founded in 2018 by Robby Deziel and Levi Conlow, and is based in Phoenix, Arizona. For more information, visit the Company’s website at www.lectricebikes.com.
About Bertram Capital
Bertram Capital: Bertram is a private equity firm targeting investments in lower middle market companies. Since its inception in 2006, the firm has raised over $1.7B of capital commitments. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High-5 and Bertram Labs, to empower its portfolio companies to unlock their full business potential. The Bertram High-5℠ is an operationally-focused value creation strategy, which includes management augmentation, operational initiative implementation, complementary business acquisition, sales and marketing improvements, and leveraging technology and IP. The cornerstone of this strategy is Bertram Labs, its in-house technology team, which drives growth and value through digital marketing, e-commerce, big data and analytics, application development, and internal and external platform optimization. Visit www.bcap.com for more information.
About Cherry Tree & Associates
Cherry Tree & Associates is a private investment banking firm headquartered in Minneapolis, Minnesota. Founded in 1980, it specializes in M&A transactions for both buyers and sellers of middle market companies. Additionally, it conducts private placements for attractive, entrepreneurially managed growth companies, provides strategic advisory services to CEOs and boards of directors, and prepares fairness opinions and other valuation services.