OGDEN, Utah (BRAIN) — Amer Sports Corp., the owner of Mavic and several other outdoor brands, has bought Utah's Enve Composites for $50 million.
Enve makes carbon rims, wheels and components and has annual sales of about $30 million.
"The acquisition accelerates Amer Sports' cycling business especially in the United States and provides further expansion opportunities internationally. Enve brings capabilities in carbon technology, and it offers operational scale and synergy benefits complementing Amer Sports' cycling category," the company said.
Amer said the purchase was an all-cash transaction. The closing is expected in the first quarter this year.
Amer is based in Helsinki, Finland. Its U.S. winter and outdoor sports division, which includes Mavic, is based in Ogden, where Enve also is based. Besides Mavic, Amer owns Arc'teryx, Salomon, Wilson, Atomic, Suunto, Precor and Louisville Slugger.
Edge Composites was launched in 2005 by Jason Schiers. In 2010 it changed its name to Enve because of a conflict with a European brand named Edge.
