FRIEDRICHSHAFEN, Germany (BRAIN) — Ridley Bikes has partnered with Belgium's LRM and Taiwan-based Ideal Bicycle Corporation, one of the country's largest bicycle manufacturers.
"We are excited to be partnering with strong financial and supply chain partners LRM and Ideal Bike," said Jochim Aerts, CEO of Ridley. "We had several potential partners approach us, in the end, we chose organizations who provided operational and strategic support. LRM and Ideal will help us continue to grow and develop Ridley as an international player in the bicycle industry."
Richard Wittenberg, director of international sales at Ridley, said that Ideal's vendor purchasing powers and strategic manufacturing locations in Asia coupled with LRM's capital investment should help fuel product development and help Ridley explore regional growth opportunities.
"We have found the right partners to help us grow," Wittenberg said. "For us, it's all about getting into a positive position for long-term growth while retaining the essence of our brand."
"We now have the key pieces in place to allow us to focus on building bikes and doing a good job of getting them out into the world," Wittenberg added.
LRM is an investment company based in Flanders, Belgium, and Ideal operates factories in Taiwan, China and Poland.
Wittenberg said that Aerts would retain majority ownership of Ridley Bikes, which he started in Belgium in 1990.