Mergers, Acquisitions & Investments
LOUISVILLE, Colo. (BRAIN) — Used gear outlet The Pro's Closet is merging with The Radavist, a cycling website founded by John Watson.
AMSTERDAM (BRAIN) — Dutch e-bike manufacturer VanMoof announced a $128 million Series C minority investment led by an Asia-based private equity firm.
LINCOLN, Neb. (BRAIN) — Factor Bikes and its parts and accessories subsidiary Black Inc. announced a round of funding from an investment group that includes professional cyclist Chris Froome. The amount of the investment was not disclosed.
LAUSANNE, Switzerland (BRAIN) — The IRONMAN Group has acquired the multi-day cycling event series Haute Route and the Gravel Epic series, which Haute Route acquired earlier this year.
NOVATO, Calif. (BRAIN) — Mike's Bikes, the 12-store Northern California chain, has been purchased by Pon, the Dutch parent of Santa Cruz, Cervelo and other bike, mobility, and auto brands. Mike's former partners will remain with the business and said the stores will continue to carry non-Pon bike brands such as Specialized.
PRAGUE (BRAIN) — The Pale Fire Capital investment group has invested $6 million in VirtualTraining, a Czech company behind the ROUVY indoor cycling and running software application.
SCOTTS VALLEY, Calif. (BRAIN) — Fox Factory's sales in its Speciality Sports Group, its bicycle-product division, were up 64% in the second fiscal quarter and 73% for the first half, compared to the same periods last year.
ASHEVILLE, N.C. (BRAIN) — Kitzuma Cycling Logistics announced the closing of a first round of funding with the goal of expanding its door-to-door bike shipping business.
Life Time is best known in the cycling industry for its ownership of the Leadville 100, UNBOUND Gravel, Crusher in the Tushar and the Chequamegon MTB Festival among other events.
BOULDER, Colo. (BRAIN) — Titanium bike and component manufacturer Janus Cycle Group announced Thursday it sold all company assets to Phil Joseph, a former real estate executive.
BRESCIA, Italy (BRAIN) — Italian consumer-direct cycling apparel brand La Passione has raised 7 million euros ($8.3 million) from a group of investors, including some of its existing investors, new investment funds and "business angels." The amount will be invested over four years.
MILAN, Italy (BRAIN) — Asobi Ventures Inc. acquired a majority share of Gruppo Srl, the parent company of bike brand Cinelli and tube manufacturer Columbus. The companies did not disclose transaction terms.
LONDON (BRAIN) — Global private equity firm Rhône announced Wednesday it will make a "significant" equity investment in Wahoo Fitness. The transaction is expected to be completed in the third quarter. Additional financial terms were not disclosed.
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