Mergers, Acquisitions & Investments

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.

PARK CITY, Utah (BRAIN) — Amp Human, manufacturer of PR Lotion, is planning a merger with Momentous, a performance nutrition company.
CHICAGO (BRAIN) — Germany-based Abus has reached an agreement to acquire Italian helmet manufacturer Maxi Studio S.R.L. Abus and Maxi Studio have worked together since 2016; Maxi Studio manufactures several of ABUS's premier helmet models.
MONTREAL (BRAIN) — E-commerce platform Lightspeed announced Monday that it entered an agreement to acquire Ecwid, a U.S.-based e-commerce company that specializes in helping customers create a standalone business, and NuORDER, another platform that connects businesses and suppliers.

FRANKFURT, Germany (BRAIN) — Naxicap Partners, a European private equity firm, has reached an agreement to acquire Stromer, the Swiss-based e-bike brand. Details of the agreement were not disclosed. The transaction is subject to customary approvals.

POZZOLEONE, Italy (BRAIN) — Selle Royal S.p.A., — which produces and markets saddles and accessories under the Selle Royal, Fizik, Crank Brothers, Brooks and PedalEd brands — has received a major investment from the Wisequity V Fund. The fund has acquired a one-third share in the company.