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International

STUTTGART, Germany (BRAIN) — Bosch eBike Systems has agreed to purchase COBI, a connected biking startup that allows cyclists to use their smartphone as an e-bike control and display unit.

Tagged Electric bike / Mergers, Acquisitions & Investments

WILTON, Conn. (BRAIN) — Cycling Sports Group, a division of Dorel Industries has promoted Adriano Nascentes to general manager of Cycling Sports Group Europe. Nascentes was previously the COO for Cycling Sports Group Europe.

A scene from the 2017 Sea Otter Europe.

GIRONA, Spain (BRAIN) — The second Sea Otter Europe show will feature about 30 percent more expo area to meet demand, organizers said. The event, to be held June 8-10 next year, also has attained higher UCI ranking for some of its races.

COLORADO SPRINGS, Colo. (BRAIN) — Qarv Imports is now distributing the Spanish mountain bike brand Mondraker.

Qarv will offer Mondraker's downhill, enduro, trail, cross-country, and e-mountain bikes to select brick-and-mortar shops starting in November.

CHICAGO (BRAIN) — A long-running personal injury lawsuit can proceed after Giant Manufacturing failed to convince the Illinois State Appellate Court that it should be cut loose from the suit because, the Taiwanese company said, it essentially had no ties to the sale of Giant bicycles in Illinois.

LONG BEACH, Calif. (BRAIN) — Hiroshi Yamazaki has joined ACT Lab and recently established ACT's newest sales and research office in Osaka, Japan.

BIG FLATS, N.Y. (BRAIN) — Stan's NoTubes has hired Clayton Goldsmith. Initially, Goldsmith is focusing on OE sales in Europe, the Middle East and Africa, but he will also lead several internal projects aimed at improving product availability and reducing lead-times for European customers.

LITTLE ROCK, Ark. (BRAIN) — HIA Velo, the owner and manufacturer of Allied Cycle Works, has brought on a chief operating officer, who is also a partner, and opened its first two European distributors for Allied frames and bikes.

BOURNEMOUTH, United Kingdom (BRAIN) — Reid Bikes has opened its first Argentina distributor, Aries Comercial SA.

The distributor placed its first order this month, the UK-based brand announced.

OGDEN, Utah (BRAIN) — This community north of Salt Lake City, which is home to a growing number of bike and outdoor industry companies, is hosting a trade mission from the European Commission later this month, in an effort to attract more outdoor companies to do business in the area.

HELSINKI, Finland (BRAIN) — Amer Sports has announced that Bernard Millaud, the president of its cycling category and a member of Amer Sports executive board, has decided to step down from his current role and is appointed to a special advisory role reporting to Amer Sports' president and CEO Heikki Takala.

CINCINNATI (BRAIN) — Steadyrack, based in Perth, Australia, has formed Steadyrack USA, based here.

The company behind the Cannondale-Drapac squad said it needs another $7 million to continue next year.

BOULDER, Colo. (BRAIN) — Slipstream Sports, the company that owns and manages the pro road team currently known as Cannondale-Drapac, has launched an Indiegogo crowd-funding campaign in a bid to continue racing in 2018.

Tagged Racing & Sponsorship

SCHWEINFURT, Germany (BRAIN) — Marcus Schneider has been appointed SRAM's director of business development for e-MTB and e-mobility. The new role will focus on identifying opportunities in the e-bike market, defining strategic goals, and establishing and developing key customer relationships.

Tagged Eurobike
Photo courtesy of Enve.

HELSINKI, Finland (BRAIN) — Amer Sports has updated its 2020 growth target. Instead of aiming for sales of 3.4 billion euros ($4.2 billion) in that year, the company is now setting a target for "annual mid-single-digit organic, currency-neutral growth."

Tagged Earnings/Financial Reports

SCOTTSDALE, Ariz.— U.S. industry veteran Paul Lew has been named CEO of the newly restructured Edco cycling company, now based in Arizona.

BREMBATE, Italy (BRAIN) — The German high-end component brand THM, which was acquired by 3T last year, is now distributing to European dealers via its own B2B sales platform.

The company said the system offers retailers enhanced transparency of the order process and quicker fulfillment.

NEW YORK CITY (BRAIN) — Phillip Lucas is transitioning to part-time consulting work with Velocomp, where he has worked for the past year. Lucas is returning to Europe to live closer to his family and work via his Netherlands-based consulting firm, Upshift Sports Consulting.

TAICHUNG, Taiwan (BRAIN) — Giant Manufacturing, a bellwether company within the industry's manufacturing sector, reported a 7.4 percent decline in revenue to $887.9 million through the first half of the year.

CAPE TOWN, South Africa (BRAIN) — Protective products manufacturer Leatt Corporation announces on Friday that its first half sales totaled $9.3 million, up from $8.5 million in the first half last year. In the half, the company registered net income of $101,000.

Tagged Earnings/Financial Reports

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