An e-scooter company based in Gloucestershire and Somerset has been acquired by an Irish electric scooter rental company.
Zwings UK, which employs 15 staff across sites in Cheltenham, Gloucester and Yeovil, has been bought by electric micro-mobility sharing company Zeus Scooters for an undisclosed sum.
Zeus, which was founded in 2019 by ex-banker Damian Young, launched in Germany in 2020 and has since expanded to 42 cities spanning six countries and two continents. It has a fleet of more than 5,000 three-wheeled e-scooters, with operations across Germany, Norway, Sweden, Croatia, Italy and Malaysia.
Following the deal, Zeus said it would initially offer its two-wheeled scooter in the UK, with plans to expand once British legislation allows for other models, including a three-wheeled scooter.
Mr Young said: “We are delighted to be entering the UK market as our nearest neighbour and we hope to further enhance the positive impact that Zwings has made in the UK market.”
JP Lewin, chief executive and founder of Zwings, said: “We are thrilled to be joining the Zeus family and their visionary team and we look forward to combining our operational knowledge to achieve continuing success both in the UK and other markets in the years to come.”
Zeus recently closed a €5m (£4.3m) funding round with investors including Enterprise Ireland and BVP Investments. The company, which employs 36 people in Ireland, has also recently opened new offices in Kildavin, Co Carlow. It also has more than 100 staff in its markets globally.
Mr Young added: “We have invested in Ireland and have created our global head office here as well as creating sustainable employment in the local market, in anticipation of legislation governing micro mobility in Ireland.”
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