Mergers, Acquisitions & Investments
MONTREAL, Quebec (BRAIN)—Dorel Industries' Pacific Cycle division has acquired the assets of PTI Sports, a leading U.S. designer, manufacturer and distributor of bicycle parts, helmets and other accessories, for $28.1 million (USD).
GOLDEN, CO (BRIAN)—Spot Brand, manufacturers of single-speed bikes and carbon belt drive systems, has added Maverick’s full-suspension product line to its offerings.
Maverick founders Paul Turner and Frank Vogel will still be involved with future Maverick designs.
OKLAHOMA CITY, OK (BRAIN)—BikeMine has a new owner. Vittoria Industries has bought its American distributor creating a new company, Vittoria Industries North America.
WILMINGTON, MA (BRAIN)—Sports Adventures International S.A., a newly formed Swiss investment group, has acquired Pedro’s from its parent company, Swix Sport USA.
The terms of the deal, which becomes effective May 1, were kept private.
NEW BRUNSWICK, Quebec (BRAIN)—Barrett Corporation, a privately held international management Company, has become the majority shareholder in Cycles Lambert.
Roynat Capital now retains a significant minority interest in Cycles Lambert.
HUNTINGDON VALLEY, PA (BRAIN)—A.T. Cross has closed an all cash transaction to purchase Native Eyewear, the maker of sport performance sunglasses and goggles.
BY MATT WIEBE
IRVINE, CA—News that Shimano snapped up Pearl Izumi from Nautilus last month caught most of the industry by surprise.
TEMPE, AZ (BRAIN)—GAI Cycles of Phoenix has acquired 100 percent ownership in Titus Cycles from Vyatek Sports.
BY JASON NORMAN
MONTREAL, Quebec—When Dorel Industries purchased Cannondale early last month the industry’s top tier became a little more crowded and competitive.
Dorel had no problem throwing down the gauntlet either.
HEERENVEEN, Netherlands (BRAIN)–Accell Group is buying Ghost Mountainbikes, a high-end German bicycle brand, adding yet another premium bike company to its ever-growing corporate portfolio.
CHATSWORTH, CA (BRAIN)—Currie Technologies has been acquired by Risk equity Partners, a California-based investment group.
IRVINE, CA (BRAIN)—Shimano has purchased Dash America, Pearl Izumi’s parent company, from Nautilus. Pearl Izumi becomes a wholly owned subsidiary of Shimano’s U.S. operations, and will continue to operate from its facilities in Broomfield, Colorado and Kirchzarten, Germany.
MONTREAL, Quebec (BRAIN)—Dorel Industries’ purchase of Cannondale now positions the Canadian consumer goods company right behind Trek and Specialized within the independent bicycle dealer (IBD) channel, according to Dorel president and chief executive officer Martin Schwartz.
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