By Jo Beckendorff
OBERHACHING, Germany (BRAIN) — Boards & More Group GmbH has acquired the ergonomic bike product brand SQLab GmbH. The companies are not releasing a purchase price for the acquisition, which became effective March 30. Both companies are based near Munich.
Boards & More is a leading kiteboarding, windsurfing, wing foil, and stand-up paddling supplier that also owns Ion, a mountain bike apparel brand. SQLab makes saddles, shoe insoles, grips and handlebars. SQlab founder Tobias Hild will remain on board as managing director, while his wife, co-founder and CFO Annette Hild, will gradually withdraw from the company.
SQlab's location and team will not change.
In the future, the two companies want to jointly develop and distribute further innovative products for the cycling market.
With the Boards & More Group behind it, SQlab primarily wants to take the next steps towards internationalization. Among other things, this would involve setting up new logistics. Since 2013 Boards & More Group is in the hands of Munich-based investment company Emeram Capital Partners. The Oberhaching-based company operates the three brands Duotone, Fanatic (both watersports) and Ion.
The Ion brand was originally founded in 2004 as a brand offering wetsuits and other neoprene-products. In 2012 it expanded with a bicycle division. Today it offers mountain bike apparel, protectors, gloves, shoes and backpacks.
In 2015 Ion debuted at Interbike with its own booth.
While Boards & More said it wants to transfer "the fun of surfing to biking" with the brand, SQlab is considered a pioneer when it comes to ergonomic bike products. For example, the brand claims to be the first manufacturer to start with the concept of seat-bone measurement and to offer saddles (and later, shoe soles) customized to different widths.
Tobias Hild's latest project is to begin customized saddle production in Germany. This is currently being ramped up in order to supply the market with high-quality "Made in Germany" products.
