Mergers, Acquisitions & Investments
VANCOUVER, Canada (BRAIN)—With coffee mugs sitting where they left them, 12 former Race Face employees are back at their old jobs under the company’s new majority owner, Chris Tutton, who purchased Race Face from its receiver, Grant Thornton, last week.
CHICAGO, IL (BRAIN)—SRAM today announced that it has acquired Quarq Technology Inc., manufacturer of power meters, measurement devices and related accessories for the bike industry. Detailed integration plans with Quarq are being formulated, the company said in a release.
HEERENVEEN, the Netherlands (BRAIN)—Accell Group N.V., via its fully owned subsidiary In2Cycling B.V., has acquired a 5.7 percent stake in the German bicycle group Derby Cycle AG.
CHATTANOOGA, TN (BRAIN)—Kirk Pacenti of Pacenti Cycle Design sold his 12-year old company to the investment group, Top Five, also from Chattanooga, Tennessee.
CHATTANOOGA, TN (BRAIN)—American Bicycle Group has sold its Merlin Metalworks brand to Arkansas-based online retailer Competitive Cyclist.
BEAVERTON, OR (BRAIN)—Yakima has acquired New Zealand based rooftop car rack manufacturer Hubco.
LAKE OSWEGO, OR (BRAIN)—D.A. Davidson & Co. has acquired Silver Steep Partners LLC, an investment banking firm specializing in the outdoor and active lifestyle industry. Silver Steep is the firm responsible for such high profile industry mergers including Oval, Kestrel and Camelbak.
ROTHERHAM, U.K. (BRAIN)--Planet X, a U.K. based Internet bicycle retailer, purchased all of Titus’ assets from Factors Southwest late Tuesday, November 23.
SEYMOUR, CT (BRAIN)—The Thule Group has acquired TracRac Inc., a U.S. manufacturer of transport solutions for professional use.
SCHAFFHAUSEN, Switzerland (BRAIN)—Garmin has acquired MetriGear, the creator of a pedal-based power solution for cycling, as a new component of its growing fitness division.
FRYEBERG, ME (BRAIN)—Longtime employee Jeff Cavicchi is now a minority owner of Downeast Bicycle Specialists, the Northeast’s oldest wholesale distributor. Doug Moore remains the majority owner, and will continue in his position as president at the company’s Fryeburg, Maine facility.
GRAND RAPIDS, MI (BRAIN)—Industry retail veteran Patrick "P.J." McDonald has joined Michigan-based Slingshot Bicycle Company as its new majority partner.
LEOMINSTER, MA (BRAIN)—Northern California-based The Hive, known for its cranksets and hubs, has bought E.Thirteen, which was owned by suspension guru Dave Weagle. The Massachusetts-based company is best known for its chain retention systems.
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