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Longtime retailer BGI begins ownership transition

Published January 16, 2014
Helvie and Clark

INDIANAPOLIS (BRAIN) — Bicycle Garage Indy/BGI Fitness is transitioning ownership from company founder and president Randy Clark to Scott Helvie, the retailer announced. 

Helvie, 37, worked five years at BGI and also worked in manufacturing, sales and distribution for nine years. 

As part of the five to 10-year transition plan, Helvie has taken a minority ownership in BGI and becomes the chief operating officer. He will be responsible for day to day operations. Clark will remain as chairman of the board and chief financial officer of the company.

“All of our values and culture will remain intact, and in fact be strengthened, by Scott’s presence. Our goal is to provide an exceptional value-added shopping experience for each and every customer,” said Clark, 65. “We will continue to focus on things that tie us to the community.

“Scott is fully capable of taking BGI to the next level,” he added. “We have an outstanding and experienced management team all of whom know and respect Scott’s talents.”

BGI was founded in 1983 and has three stores and a distribution center in Indianapolis. The company employs 100 part- and full-time employees. BGI sells bicycles as Bicycle Garage Indy and residential fitness equipment as BGI Fitness. The company also has extensive commercial sales in each segment.

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