Cowboy saddle with new owner

The Brussels-based electric bike company has officially closed its deal to be acquired by ReBirth Group Holding, which also owns Peugeot, Gitane and Solex cycling brands. The deal includes new, undisclosed financing from ReBirth as well as €15 million ($17.6 million) from existing shareholders. The companies say the funding will be used to resume production and deal with a backlog of spare parts.

Rebirth is the parent company of Re-cycles, the French traditional bike manufacturer that took over Cowboy’s e-bike assembly operations earlier this year. Cowboy has been plagued by issues in 2025, including delayed deliveries and repairs, as well as a costly frame recall caused by a former manufacturing partner that brought the company within weeks of bankruptcy.

Cowboy and its internal design, engineering and software teams will continue to operate independently from Brussels. But Cowboy founder and CEO Adrien Roose left the company. “I hope this new partnership will make Cowboy even more reliable for riders in the long term. To keep them on the road and support them in the best way possible,” Rose said in a press release.

With the deal completed, priorities include producing 1,500 new bikes in January to help clear the backlog of orders. Customers waiting for their e-bike will receive updated delivery schedules “in the coming weeks.” Lead times should be significantly reduced by spring 2026.

The deal should also give Cowboy a greater presence in France by leveraging ReBirth’s 95 Oxygen stores and 10 Ovelo bike stores, as well as its network of 500 independent bike dealers.

In the long term, we can expect to see the Cowboy e-bike’s smarts trickle down to ReBirth’s other brands. “Cowboy’s digital expertise and platform capabilities will also support innovation across ReBirth’s other brands, applying the same data-driven systems and tools that have defined Cowboy’s approach to connected mobility,” the press release said.

“I would like to thank the Cowboy founders for their vision, ambition and the great company they have built in a difficult market,” said Gregory Tribault, CEO of ReBirth Group Holding. “This deal opens a new chapter for Cowboy.”

Cowboy — like all bike makers — has suffered from a boom-and-bust cycle in the coronavirus era that has wreaked havoc on the industry. A recall of an expensive tire was announced in May It was almost disastrous. Cowboy had to take out short-term financing in August just to keep the lights on. Fortunately, unlike VanMoof, it was able to avoid bankruptcy, and just yesterday, Rad Power Bikes. Other e-bike makers like Ampler and GoCycle have managed to find buyers before time runs out.

With the Cowboy acquisition, the glory days of independent, direct-to-consumer e-bike startups that injected excitement and innovation into the bike industry are now well and truly over.