Global law firm K&L Gates has advised Tri Star Group, based in Shanghai, on its acquisition of the Polish company Sprick Rowery Sp. z o.o. from the insolvency of the German Sprick Group. The Sprick Group, which is headquartered in Gütersloh, Germany, manufactures bicycles and bicycle parts.
The transaction was part of insolvency proceedings for both Sprick Cycle GmbH and Sprick Rowery Sp. z o.o., which is located in Świebodzin, Poland and employs about 250 people. These proceedings began in February 2025 at the Local Court (Amtsgericht) of Bielefeld, Germany. Due to European Insolvency Regulation rules and the “Centre of Main Interests” (COMI) concept, German insolvency law applied to the Polish subsidiary as well.
Tri Star acquired Sprick Rowery Sp. z o.o. through a Polish subsidiary using a German insolvency plan that had been approved by a consortium of lending banks. The company will keep all current employees following the acquisition. Approval from the German Federal Cartel Office was obtained before completion, and insolvency proceedings for the Polish subsidiary ended in February 2026.
Axel Geese, insolvency administrator for Sprick Group, said: “With the entry of a strong, globally positioned investor, we have succeeded in placing the company on a sustainable path for the future. The close and constructive cooperation of all parties involved made this important step possible.”
Stacy Zhang, legal counsel for Tri Star Group, stated: “We are pleased to have KLG as our partner in this transaction. We are deeply committed to advancing the Green Mobility sector, and with Sprick joining our group, we will further strengthen and complete our industrial chain, laying a solid foundation for long-term, sustainable growth.”
Tri Star Group is owned by Singapore-based DuTech Holding Ltd., which provides security products and green mobility solutions with more than 3,100 employees across Germany, Asia, the United Kingdom and United States.
K&L Gates’ team advising Tri Star included Frankfurt partner Dr. Georg Bernsau (Restructuring and Insolvency), counsel Dr. Angelika Bartholomäi (M&A/Corporate), and associate James Schütze (M&A/Corporate).