BREMBATE, Italy (BRAIN) — Italty's 3T Cycling Srl will acquire THM Carbones GmbH, a high-end carbon components brand based in Germany. The companies said the acquisition will be completed in August.
3T will purchase all shares of THM from its founder, Thomas Mertin. The companies said the agreement will add international distribution muscle to THM.
THM designs and builds cranks, forks and brakes at its facility in Alt Duvenstedt, Germany.
3T, founded 55 year ago, operates three regional sales offices (Italy, Taiwan, and California), 20 service centers and has worldwide sales, marketing and logistics. Cervélo co-founder Gerard Vroomen and long time 3T president René Wiertz bought 3T in 2015.
Wiertz said, "I am very happy we came to an agreement. I have great admiration for what Thomas and Petra have achieved with THM, and I say that also as a very satisfied customer of their products. With THM making the lightest possible components and 3T focusing on aerodynamics, it's a perfect fit. Together we can create a company with a global reach and unrivaled technical capability. Our products are complementary: THM makes the world's best and lightest cranks and brakes, 3T makes most of the other parts of the bike."
Mertin said,"This is a great opportunity for THM. The agreement with 3T gives us a global distribution network to expand our brand. THM has a clear roadmap to deliver top-notch products, manufactured in Germany. With 3T's backing and commercial strength, we will be able to focus even more on the technical side and leave sales and distribution to the experts at 3T."
Vroomen said, "I've known Thomas for a long time and always admired not only his products but also his whole outlook on technology, business and the bike industry. I look forward to work closely with him, René and the people at both companies to create an exciting future."
After the deal is closed Mertin will focus on the technical development, while Wiertz will become CEO of both 3T and THM.
