LANDRUM, S.C. (BRAIN) — Cardinal Cycling Group is selling the machinery and raw materials from what was once the largest steel frame factory in the U.S.
The equipment was used by Detroit Bikes, which made bikes for its own brand and others in Michigan. Cardinal — which also owns TIME Bicycle — bought Detroit in 2022. Last year, Cardinal sold the Detroit Bikes brand, current model IP, current customer contracts, wheel building machinery and various other assets to Bloom Holdings. Bloom did not acquire all the manufacturing equipment and raw materials, however.
Cardinal CEO Tony Karklins said his company is now focused on carbon fiber manufacturing, including establishing TIME frame production in South Carolina. He said the steel frame manufacturing equipment is an opportunity for someone to "capitalize on growing domestic and international demand for high-quality, American-made steel bicycles."
“Our goal now is to get these steel bicycle manufacturing assets into the right hands and to enable the next great American-made steel brand or production facility,” Karklins said. "These assets are available for immediate activation and at a significant discount from current fair market value. Everything is on pallets in our South Carolina facility and ready for deployment.”
Karklins is a long time proponent of domestic manufacturing and was a founder of Allied Cycle's parent, HIA in 2016. He said current trade tensions and rising production costs in Asia make domestic production essential. And he said a variety of federal and state-level support for domestic manufacturing is available.
He said ideal buyers could include bike brands seeking vertical integration, contract manufacturers diversifying into transportation or recreation sectors, Investment groups focused on industrial reshoring, ESG-focused businesses seeking carbon-conscious domestic production, or "industrious retailers" looking to expand their capabilities or enable their in-house brands.
Karklins can be reached at tony@cardinal.cc.
