Mergers, Acquisitions & Investments
STOCKHOLM (BRAIN) — Thule Group signed an agreement to acquire Australian phone mount manufacturer Quad Lock for AU$500 million ($327 million).
TAIPEI, Taiwan (BRAIN) — Giant Group's sales in the first nine months of its fiscal year were down 7.1% compared to the same period last year. The company said that while bike inventory levels continue to decline in Europe and North America, order placement by the company's OE and retail customers is conservative.
ANOKA, Minn. (BRAIN) — Vista Outdoor's Revelyst business unit, which contains its bike-related brands, recorded sales of $315 million in the company's fiscal 2Q25, a 3.9% decline year-over-year.
LOUISVILLE, Colo. (BRAIN) — TrainingPeaks, an app for coaches and athletes, is moving into virtual cycling with the acquisition of indieVelo. TrainingPeaks is rebranding indieVelo as TrainingPeaks Virtual.
KENNEWICK, Wash. (BRAIN) — Carbitex, which makes carbon fiber soles used in cycling shoes by Scott, Lake and other brands, has closed a new funding round for an undisclosed amount. Since 2016, Carbitex has closed on at least five Series A and Series B funding rounds totaling at least $15 million.
NEVERS, France (BRAIN) — The LOOK Cycle Group has sold its Corima carbon wheel brand, which is being taken over by its co-founder, Pierre-Jean Martin. Look acquired a majority share in Corima in 2016.
ANOKA, Minn. (BRAIN) — Vista Outdoor has agreed to sell its Revelyst business unit — which includes its bike-related brands — to Strategic Value Partners for $1.125 billion.
PHILADELPHIA (BRAIN) — Trek Bicycle has agreed to sell its BCycle share bike business to Bicycle Transit Systems, which operates share bike systems in several major cities, including Los Angeles, Philadelphia and Las Vegas. The acquisition is expected to be completed next month.
MONTRÉAL — Montréal-based athletic wear company Lolë Brands has acquired Louis Garneau Sports including its three brands Garneau, Sugoi and Sombrio.
MERRILLVILLE, Ind. (BRAIN) — CSC Generation Enterprise, which owns and operates e-commerce retail businesses in several categories, has acquired Backcountry.com, including its MotoSport, Competitive Cyclist and Steep and Cheap businesses.
ROTORUA, New Zealand (BRAIN) — Anonymous industry members have invested NZ$2 million ($1.21 million) into the New Zealand-based fitment database startup Bike Matrix.
CORONA, Calif. (BRAIN) — Troy Lee has bought Troy Lee Designs back from 2Ride Holding, which acquired the brand in 2022 from SBJ Capital.
(BRAIN) — Swedish sports nutrition brand Maurten has closed on a 20 million euro ($21.7 million) investment led by IRIS Ventures. The investment round also had participation from existing investors including Dan Sten Olsson, the CEO of Stena Sphere, a Swedish investment firm.
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