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Hopes for the future of eCargobike maker EAV Bikes have come to fruition with Trek-Group Limited securing the assets of the business following it falling into administration earlier this year.
Trek-Group Limited, not to be confused with the similarly named bicycle brand, has bought EAV out of administration after the firm appointed Administrators from Begbies Traynor. Craig Povey and Gareth Prince were named Joint Administrators on 29 April 2025 to sell the trade and assets of the business, by which point all employees had been made redundant.
The purchase secures the assets of the business, including its technology and intellectual property, following an accelerated M&A process conducted by valuation specialist Eddisons, part of the Begbies Traynor Group.
With EAV Bikes’ administration coming after the close of the pioneering Zedify business, 2025 was looking to be an ‘annus horriblis’ for the cycle logistics sector, but this move may provide a little more stability and hope for the sector’s short term.
EAV Bikes lists the likes of Evri, Royal Mail, DPD, DHL and Veolia amongst its clients. By 2024, EAV Bikes had secured additional funding from investors to move into new premises and support its next stage of growth. Despite this, and the launch of its mark 4 Cargo and mark 3 Cage bikes at the start of 2025, key financial investment and order withdrawals, parts shortages and delayed payments resulted in the company falling into administration.
Craig Povey, Partner at Begbies Traynor, said: “This deal means the EAV Bikes product has a new owner and an opportunity to continue its journey. The ideas, customer book and product of EAV Bikes was always very good and has the ability of carrying businesses and their products towards net-zero.
“There are a raft of high-potential UK manufacturing and engineering companies working to attract the attentions of investors at the moment. And unfortunately, this is another story of investor fatigue creeping in and focussing attentions on other companies.
“Businesses that seek help as soon as the first signs of distress, such as investor fatigue, delays to payments, cancelled orders or rising costs, appear will give themselves significantly more options for rescue, restructure and revival.”
Tom Schofield, Group Finance Director at Trek-Group, said: “The acquisition of EAV marks an exciting step forward in our commitment to sustainability. EAV’s innovative electric cargo solutions perfectly complement our vision of redefining last-mile logistics with cleaner, smarter, and more efficient delivery systems. This partnership expands our portfolio and strengthens our ability to serve the demand for zero-emission transport options. We’re looking forward to integrating EAV’s technology into our wider offering, accelerating the shift toward greener cities and smarter transport infrastructure.
“Begbies Traynor have been able to act quickly after being appointed to ensure that the assets and ideas of the business are not lost and can live on.”
