Gas Gas Acquired by Electric Motorcycle Firm Torrot

Gas Gas appears to have a new lease on life after being rescued from insolvency by Spanish electric motorcycle and bicycle manufacturer Torrot.

After languishing while out of production for a year, the fate of Spanish trials and off-road manufacturer Gas Gas is now known.

Gas Gas has been acquired by Torrot, a Barcelona, Spain-based manufacturer of electric bicycles and electric off-road minibikes for kids. Torrot’s 9.66 million Euro bid for the company outshined bids by fellow Spanish motorcycle manufacturer Sherco and Spanish investment group IRG. Torrot’s bid is backed by another Spanish investment firm, Black Toro Capital Fund (BTC), which focuses on the rescue, stabilization and growth of mid-sized companies in Spain. As part of the deal, BTC will own 30 percent of the equity in Gas Gas.

Torrot was started life as “Terrot” in Vitoria, Spain, founded by Don Luis Iriondo in 1948. The company manufactured touring and road bicycles before expanding into motorcycle production in the 1950s, In the 1950s, Terrot entered a license manufacturing agreement to make mopeds and motorcycles for French brand Dijon-Terrot, creating Terrot S.A.E., but the agreement went sour, and in 1958 Terrot was taken over by another French manufacturer, Peugeot.

Once he was clear of licensing restrictions, Iriondo changed the “e” for an “o”, creating Terrot in 1960 so as to keep the company’s line of mopeds and lightweight motorcycles viable. The Torrot website claims that “Torrot was born from the tenacity and passion for motorcycles.”

In the 1970s, Torrot manufactured motorcycle models such as the Mustang and the TT, powered by German-made Sachs engines, but the company ultimately became a casualty of the tumultuous 1980s Spanish economy that also claimed the likes of Bultaco. The Torrot name wasn’t revived until 2011, driven by a venture to supply hybrid- and electric-powered bicycles and motorcycles to the marketplace.

Torrot will now oversee a return to production by Gas Gas, which has managed to retain over 30 percent of its passionate 89-employee work force despite the company effectively being out of business.