CHICAGO, IL (BRAIN)—SRAM has closed the deal on the recent purchase of Zipp. The closing period only took 45 days.
Customers should continue using existing SRAM and Zipp channels for orders, customer service and information.
There are no changes in how either company is operating its business. Now that the transaction is complete, the management teams will be meeting to discuss how to optimize operations for the benefit of its customers.
As previously announced those plans include:
Zipp’s management team will remain intact and continue to report to Zipp president Andy Ording. Ording will report to SRAM chief executive officer Stan Day; there will be no layoffs as a result of the transaction; the current Indianapolis location will remain the manufacturing center for Zipp wheels and components; Zipp product warranties will be honored and continue to be serviced in the Indianapolis facility; Zipp’s distribution network will be maintained; and all Zipp contracts and business relationships will be honored.
“Zipp is a great company and respected brand, with a strong management team, advanced technology and superb manufacturing capability,” Day said. “We look forward to bringing both successful companies together and synergistically delivering a growing strategic range of products to our customers.”