Mergers, Acquisitions & Investments
NOVATO, Calif. (BRAIN) — Mike's Bikes, the 12-store Northern California chain, has been purchased by Pon, the Dutch parent of Santa Cruz, Cervelo and other bike, mobility, and auto brands. Mike's former partners will remain with the business and said the stores will continue to carry non-Pon bike brands such as Specialized.
PRAGUE (BRAIN) — The Pale Fire Capital investment group has invested $6 million in VirtualTraining, a Czech company behind the ROUVY indoor cycling and running software application.
SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory's sales in its Speciality Sports Group, its bicycle-product division, were up 64% in the second fiscal quarter and 73% for the first half, compared to the same periods last year.
ASHEVILLE, N.C. (BRAIN) — Kitzuma Cycling Logistics announced the closing of a first round of funding with the goal of expanding its door-to-door bike shipping business.
Life Time is best known in the cycling industry for its ownership of the Leadville 100, UNBOUND Gravel, Crusher in the Tushar and the Chequamegon MTB Festival among other events.
BOULDER, Colo. (BRAIN) — Titanium bike and component manufacturer Janus Cycle Group announced Thursday it sold all company assets to Phil Joseph, a former real estate executive.
BRESCIA, Italy (BRAIN) — Italian consumer-direct cycling apparel brand La Passione has raised 7 million euros ($8.3 million) from a group of investors, including some of its existing investors, new investment funds and "business angels." The amount will be invested over four years.
MILAN, Italy (BRAIN) — Asobi Ventures Inc. acquired a majority share of Gruppo Srl, the parent company of bike brand Cinelli and tube manufacturer Columbus. The companies did not disclose transaction terms.
LONDON (BRAIN) — Global private equity firm Rhône announced Wednesday it will make a "significant" equity investment in Wahoo Fitness. The transaction is expected to be completed in the third quarter. Additional financial terms were not disclosed.
PARK CITY, Utah (BRAIN) — Amp Human, manufacturer of PR Lotion, is planning a merger with Momentous, a performance nutrition company.
CHICAGO (BRAIN) — Germany-based Abus has reached an agreement to acquire Italian helmet manufacturer Maxi Studio S.R.L. Abus and Maxi Studio have worked together since 2016; Maxi Studio manufactures several of ABUS's premier helmet models.
MONTREAL (BRAIN) — E-commerce platform Lightspeed announced Monday that it entered an agreement to acquire Ecwid, a U.S.-based e-commerce company that specializes in helping customers create a standalone business, and NuORDER, another platform that connects businesses and suppliers.
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