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Downeast’s Cavicchi Buys Minority Interest

Published July 16, 2010

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.

Cavicchi began as a warehouse employee at Downeast in 1994, helping to move the company from its original Auburn, Maine location to its current location on his first day of work. After leaving for a few years to pursue a graduate degree, Cavicchi returned to Downeast in 1999, just after Moore purchased the company from its founders, David Kinsman and Steve Pucci.

Cavicchi said he was looking to advance in the industry, but wanted to remain in Maine because his family was local and kids were in school there.

“There are only so many paths to advancement in the bike industry. One is to go work for a large company, like SRAM or Shimano, but that would have entailed moving. The other is to end up owning your own business,” said Cavicchi.

“I really wanted to stay in this area, so it seemed the most logical thing to do was to buy into the company. I know the company and I know our operations,” he added.

Moore was open to the idea of bringing on a business partner, according to Cavicchi. “I’ve worked with him since 1999 and we have a good working relationship. I think it’s going to work out well,” Cavicchi said.

Cavicchi has worked for Downeast as senior buyer for the past five years, managing lines such as Shimano, SRAM and Michelin. With his move to part ownership Cavicchi will take on some additional managerial responsibilities, but will remain primarily responsible for purchasing and inventory management.

Cavicchi said his area of expertise complements Moore’s specialties. “I’m more involved in purchasing and product selection and he’s more involved in finances and operations. The duties divide up nicely in that way,” Cavicchi said.

An avid cyclist and motorcycle rider, Cavicchi entered the industry in 1992, shortly after buying his first mountain bike. When not working or riding he can usually be found at home helping his wife, Mantie, take care of their two children, Isabel, age 2 ½, and Atticus, age 4 months.

—Megan Tompkins

Topics associated with this article: Mergers & Acquisitions, Distributor news

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