Cowboy mounts up with a different owner

The electric bike manufacturer headquartered in Brussels has finalized its acquisition by ReBirth Group Holding, which also includes cycling brands such as Peugeot, Gitane, and Solex. The agreement encompasses new, undisclosed investment from ReBirth along with €15 million ($17.6 million) from current investors. This funding will facilitate the resumption of production and address an outstanding order for spare parts, the companies state.

Rebirth is the parent of Re-cycles, the French company responsible for traditional bike manufacturing, which took over Cowboy’s electric bike assembly duties earlier this year. Cowboy faced several challenges in 2025, including shipment delays, repair issues, and an expensive frame recall (due to an earlier manufacturing partner) that brought the company close to bankruptcy.

Cowboy, along with its internal design, engineering, and software departments, will maintain its independent operation from Brussels. However, Cowboy’s founder and CEO Adrien Roose has departed from the company. “I hope this new cooperation will enhance Cowboy’s reliability for riders long-term. Ensuring they can stay on the road and receive optimal support,” Roose stated in a press release.

With the acquisition complete, the focus will shift to producing 1,500 new bicycles in January in order to reduce the backlog of orders. Customers awaiting their electric bikes will be provided with revised delivery schedules “in the coming weeks.” Production times are expected to improve significantly by Spring 2026.

The acquisition is also anticipated to enhance Cowboy’s visibility in France by utilizing ReBirth’s 95 Oxygen and 10 Ovelo bike shops, along with its network of 500 independent bicycle retailers.

In the longer term, we can look forward to Cowboy’s electric bike technology being integrated into ReBirth’s other brands. “Cowboy’s digital knowledge and platform capabilities will also drive innovation across ReBirth’s other brands, utilizing the same data-driven systems and tools that have characterized Cowboy’s approach to connected mobility,” the press release states.

“I want to express my gratitude to Cowboy’s founders for their vision, determination, and the exceptional company they have established in a challenging market,” commented Grégory Trébaol, CEO of ReBirth Group Holding. “This transaction signifies a new chapter for Cowboy.”

Cowboy — like all bicycle manufacturers — has been impacted by the boom-bust cycle experienced during the COVID era that caused significant disruptions in the industry. A costly frame recall announced in May almost proved disastrous. Cowboy had to resort to short-term financing in August merely to keep operations running. Thankfully, it managed to sidestep bankruptcy, in contrast to VanMoof and just recently, Rad Power Bikes. Other niche e-bike manufacturers such as Ampler and GoCycle found buyers before it was too late.

Now that Cowboy has been acquired, the golden age of independent, direct-to-consumer electric bicycle startups that invigorated and modernized the bicycle industry is definitively over.