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Colorado-based investor group agrees to buy Niner; co-founder Chris Sugai to remain involved

Published November 27, 2017

FORT COLLINS, Colo. (BRAIN) — A Colorado-based investor group has agreed to purchase Niner Bikes. In a statement released just before the Thanksgiving holiday, the company did not identify the new investors except to say, "They're a group of passionate cycling enthusiasts who want to help us grow, innovate and thrive. Their involvement guarantees that Niner will continue to be here for our riders, supporters and industry partners for years to come."

In the statement, Niner's founder and president, Chris Sugai, said, "We're happy to have a partner that shares our vision for the future, one who enables us to take Niner's products and services to new heights.

"I'll still be directly involved in the day-to-day operations, working diligently with our incredible team to explore and push the boundaries of this amazing brand's potential."

The statement said the reorganization will have little day-to-day effect on the company's operations. 

"Our capable team remains intact. That's important. Everyone here will continue to support Niner's mission of supporting trails everywhere, of building the riding stoke, and of creating incredible cycling products for riders who love to hit the dirt."

Sugai co-founded Niner with Steve Domahidy in 2004. Domahidy left the company in 2011 and later founded Domahidy Designs, which was renamed Viral Bikes. Mike Gann, who had been with Niner for six years, including the last two years as president, announced earlier this month that he had taken a job with Look Cycle as VP of sales and marketing for the U.S. market. 

BRAIN reached out to Niner on Monday for more details. Watch for an updated story soon. 

Topics associated with this article: Mergers, Acquisitions & Investments

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