Mergers & Acquisitions
LAKE OSWEGO, OR (BRAIN)—D.A. Davidson & Co. has acquired Silver Steep Partners LLC, an investment banking firm specializing in the outdoor and active lifestyle industry. Silver Steep is the firm responsible for such high profile industry mergers including Oval, Kestrel and Camelbak.
ROTHERHAM, U.K. (BRAIN)--Planet X, a U.K. based Internet bicycle retailer, purchased all of Titus’ assets from Factors Southwest late Tuesday, November 23.
SEYMOUR, CT (BRAIN)—The Thule Group has acquired TracRac Inc., a U.S. manufacturer of transport solutions for professional use.
SCHAFFHAUSEN, Switzerland (BRAIN)—Garmin has acquired MetriGear, the creator of a pedal-based power solution for cycling, as a new component of its growing fitness division.
FRYEBERG, ME (BRAIN)—Longtime employee Jeff Cavicchi is now a minority owner of Downeast Bicycle Specialists, the Northeast’s oldest wholesale distributor. Doug Moore remains the majority owner, and will continue in his position as president at the company’s Fryeburg, Maine facility.
GRAND RAPIDS, MI (BRAIN)—Industry retail veteran Patrick "P.J." McDonald has joined Michigan-based Slingshot Bicycle Company as its new majority partner.
LEOMINSTER, MA (BRAIN)—Northern California-based The Hive, known for its cranksets and hubs, has bought E.Thirteen, which was owned by suspension guru Dave Weagle. The Massachusetts-based company is best known for its chain retention systems.
SANTA CLARITA, CA (BRAIN)—Corsair Bikes have new owners as Mike Flaherty and Froggy Khu of Atomlab, along with Pablo Tafoya—the designer of Corsair frames—have purchased the company from original founder and industry veteran Doug Stuart.
SANTA CRUZ, CA (BRAIN)—Santa Cruz Bicycles has purchased Swobo outright, buying out Tim Parr’s minority interest in the company.
POZZOLEONE, Italy (BRAIN)—Selle Royal S.p.A. has signed a binding agreement to purchase a majority interest in Justek, the largest bicycle saddle manufacturer in China.
SAN DIEGO, CA (BRAIN)—Zoic Clothing's Eric Swenson and Paul Wyandt have bought the company from Nitches, Inc. a publicly traded apparel company.
Both Swenson and Wyandt have been working at Zoic/Nitches for more than 10 years.
HEERENVEEN, the Netherlands (BRAIN)—Accell Group N.V. has acquired Bäumker & Co, a German trading company of bikes and parts and accessories that also distributes Batavus, a brand owned by Accell.
BEAVERTON, OR (BRAIN)—Yakima has tied its future to a Taiwan company that—among many other items—makes water filtration products and water coolers for Whirlpool. It seems an unlikely merger, but Kemflo International also makes parts for Yakima’s racks, and has for the last nine years.
BEAVERTON, OR (BRAIN)—Yakima, one of the industry’s best known rack companies, has “merged” its operations with a privately held Taiwan company that has been supplying it with parts for the last nine years.
PHILADELPHIA, PA (BRAIN)—Advanced Sports has purchased the Oval Concepts brand, trademarks and tooling and has entered into a license agreement for its patented JetStream and SCCS technology.
VAN NUYS, CA (BRAIN)—Southern California-based Bent Up Cycles, one of the country’s largest retailers of recumbent bicycles, has purchased Barcroft Cycles, the Falls Church, Virginia-based manufacturer of such recumbent bicycles as the Barcroft Dakota, the Barcroft Virginia, the Barcroft Oregon and the Barcroft Colu
BERKELEY, CA (BRAIN)—Backroads has acquired Boston, Massachusetts-based Bike Rider Tours—a provider of biking, walking and culinary tours highlighting the unique characteristics of some of the world’s most picturesque regions.
BETHEL, CT (BRAIN)—Cycling Sports Group (CSG) has acquired the assets of Sydney-based Gemini Bicycles for US $2.2 million.
MONTREAL, Quebec (BRAIN)—Dorel Industries purchase of Iron Horse Bicycle Company for $5.2 million "brings depth to our mountain bike offerings," according to Robert Baird, president of Dorel's Recreational/Leisure segment.
Dorel already owns Cannondale, GT, Mongoose and Schwinn brands.
BOULDER, CO (BRAIN)—Gruppo Bici N.A. has acquired Italian bicycle brands Galmozzi and Lygie from Atala S.p.A. The company also plans a series of reproduction frameset classics under its Atala, Cicli Italia, Galmozzi, Lygie, Maino and Umberto Dei brands. Terms of the acquisition were not disclosed.