GRENCHEN, Switzerland (BRAIN)—BMC’s Andy Rihs and e-bike brand Stromer’s Thomas Binggeli have joined their companies under one banner, International Sport Holding (ISH). In doing so, the pair hope to give Swiss technology and manufacturing a boost in the international market.
“Thomas Binggeli is only 37 years old and has already proven he is an innovative, inspiring entrepreneur with great staying power,” said Rihs, 69, who also has his Bergamont and SMT+ brands in ISH, which he founded in 2006. “I am expecting some decisive stimuli for the entire group through his personality and his ingenious e-bike Stromer.”
Binggeli, the founder of Thömus Veloshop, owns a share in ISH and is now in charge of its management, replacing Mike Hürlimann. Rihs remains chairman of the ISH board of directors.
Thömus remains an independent bike brand and will be managed by Markus Binggeli, Thomas’ brother. Thomas Binggeli remains a majority shareholder in Thömus.
“This is a fantastic step forward for me. We now have a great chance of developing into an important Swiss bicycle manufacturer,” said Binggeli. “We are convinced that all of the ISH brands will profit from the synergies.”
The ISH Group has around 250 employees in Grenchen and Thörishaus, Switzerland, and Hamburg, Germany. The company has an annual turnover of around $139 million (CHF 125 million).