Bicycle Transit Systems to Acquire Bike Share Company BCycle from Trek

Acquisition Propels Legacy Bike Share Leader into New Era as the Only U.S. Company Offering End-to-End Dock-Based Services for Cities Expanding and Electrifying Fleets

PHILADELPHIA, Sept. 18, 2024 /PRNewswire/ -- Today, leading bike share operator Bicycle Transit Systems, Inc. ("Bicycle Transit Systems") announced the signing of a definitive agreement to acquire BCycle from Trek. The acquisition makes Bicycle Transit Systems North America's only docked bike share company with fully integrated end-to-end operations. The acquisition will allow Bicycle Transit Systems to better support the expansion of mobility options in cities nationwide with seamless solutions for building, installing, and managing docked, electrified bike share.

Bicycle Transit Systems currently operates bike share systems in some of the largest markets in the country, including Los Angeles, Philadelphia, and Las Vegas. It also provides the nation's only full-service bike share customer service center to an additional 24 U.S. cities. Following the acquisition's anticipated closing in October, Bicycle Transit Systems will become the largest docked bike share provider in the U.S., by number of communities served, taking on:

• Ten BCycle-owned bike share systems in communities across the U.S., including Santa Barbara, Santa Cruz, Madison, and Boulder.
• Bikes, docking stations, and software support for 15 other communities, including Indianapolis, Salt Lake City, Cincinnati, and Milwaukee.

Bringing all of the interconnected aspects of bike share together under one company expands Bicycle Transit Systems' ability to deliver innovative and affordable solutions that meet cities' needs, advance electrification efforts, reduce operating costs, and improve riders' customer experience.

"With greater flexibility and oversight of end-to-end services, we can design real-time solutions to the pressing equity, safety, and climate challenges cities face today," said Bicycle Transit Systems Founder and Chair Alison Cohen. "The bottom line is, this will allow us to better meet our core mission as a company - to deliver the best customer experience possible for riders and advance bike share as a mobility option in the cities we serve."

Bicycle Transit Systems' executive team, led by CEO Kristin Gavin-Wisniewski, will continue to manage the company. BCycle Executive Director Brian Conger will join the leadership team as Chief Business Officer.

"Since 2008, BCycle has helped millions replace car trips with the climate-friendlier option of bikes," said Trek President John Burke. "We're excited for Bicycle Transit Systems to take this mission even further as they continue to grow and make meaningful change for the benefit of our planet and future."

About Bicycle Transit Systems
Bicycle Transit Systems has paved the way for bike sharing in the United States, and its leaders have launched bike sharing systems in almost every major American city. Bicycle Transit Systems currently has over 140 employees and operates three major systems: Los Angeles' Metro Bike Share, Philadelphia's Indego, and Las Vegas' RTC Bike Share. 365 days a year, 24 hours a day, dedicated staff maintain bicycles to be safe and smooth, service customers, and get more people riding bikes.

Bicycle Transit Systems' hallmarks are innovation, equity, and operational excellence. All systems have the same mark of safe, clean bikes and stations, maintained with the utmost care and professionalism. Bicycle Transit Systems imagines a world with more bikes on streets than cars and a bike share program in every city.

SOURCE Bicycle Transit Systems