CHATTANOOGA, TN (BRAIN)—Kirk Pacenti of Pacenti Cycle Design sold his 12-year old company to the investment group, Top Five, also from Chattanooga, Tennessee.
The partners formed a new company, NuWave, of which Pacenti Cycle Design will be a division. Pacenti will remain with the company as vice president, running day-to-day operations.
“Our Pacenti branded component line is just the beginning. NuWave intends to become a full service composites supplier to markets like the bicycle industry,” said Kirt Pacenti, NuWave’s vice president.
The short-term goals of the new company are to reactivate the Bikelugs.com frame building product line as well as develop a full line of Pacenti branded bicycle components. Long term, the company is going to focus most of its energy on developing advanced composite materials and manufacturing technologies.
“One of our main objectives is to bring high-volume production processes to low-volume production. We plan to manufacture our composite products here in the U.S., and by taking advantage of these new manufacturing technologies, we aim to compete with Asia on price,” Pacenti added.
NuWave will be working in close association with another of Top Five’s holdings, Composite Applications Group (CAG), which is located at the Oak Ridge National Laboratory. CAG is focused on developing product applications for carbon fiber and other advanced composites.
For more information, please contact Pacenti at email@example.com