WILTON, Conn. (BRAIN) — Cannondale founder Joe Montgomery passed away Friday, his son Scott Montgomery confirmed in a LinkedIn post Sunday. Joe Montgomery was 86.
A private service will be held this weekend in Florida for family members. The family is considering a broader memorial at a later date, with details to be announced.
Cannondale started in 1971 in Wilton and became a company known for innovation, from embracing aluminum and carbon fiber manufacturing when others were wedded to steel, to the Headshok suspension fork, and to the single-sided Lefty fork.
"So we ditched the rulebook, cut a new path and created a new way," according to Cannondale, on its "The Story of Cannondale Bikes" webpage. "From a Connecticut workshop we set about revolutionising cycling for the better, for everyone. We assumed nothing, we iterated and reiterated and from day one we have worked on pioneering materials, ergonomics and technology, and we haven't looked back since."
And Montgomery led the way.
Cannondale declared bankruptcy and was sold in 2003 to private equity firm Pegasus Capital Advisors for about $58 million. In 2008, Dorel Industries acquired the brand for between $190 million and $200 million. In 2022, Dorel Industries completed its sale of Dorel Sports — which included Cannondale, Schwinn, GT, Mongoose and other bike brands — to Pon Holdings, for $810 million.
Scott Montgomery was Cannondale's co-president and vice president from 1984 to 2003 and was instrumental in starting Cannondale Japan and Cannondale Europe.
In addition to Scott, survivors include sons Michael, Luke, and John, and daughter Lauren. Grandchildren are Haley, Clyde, and William. Joe spent his retirement years with wife Celia in Vero Beach, Florida.
