SANTA MONICA, CA (BRAIN)—Cynergy Cycles, a Specialized Concept Store in Santa Monica, California, has been sold to Sean Flynn, owner of Surf City Cyclery in Huntington Beach, California.
Initial reports were that Specialized had purchased the 7,000-square-foot store due to its valuable position in the West Los Angeles market, but Sean Flynn, the owner of Surf City Cyclery, said that was untrue.
“I've sought after acquiring another store for quite some time and a great opportunity passed my way. So I formed a new LLC to own the store and now I'm the LLC president and owner on record,” Flynn said. He preferred not to comment on any other possible shareholders in the business.
Of his decision to sell, Cynergy’s former president, Augusto Sasso said, “I wanted to focus on spending time with my family and my investment banking career.”
Surf City Cyclery is the largest Specialized Concept Store in the West. Flynn said he knew Sasso and had expressed an interest in purchasing the store months ago.
“I had an interest in his business; it’s run similar to the way I run my business at Surf City, as a business first and bike shop second,” Flynn said.
Flynn said he believes having the second store will bring additional strength to his business plan. “Pardon the pun, but we’re trying to bring some synergy to our business.”