Mergers, Acquisitions & Investments
SVETA NEDELJA, Croatia (BRAIN) — Porsche will acquire a majority interest in the Greyp e-bike brand. The sports car manufacturer's venture capital segment, Porsche Ventures, has held about a 10% stake in Greyp since 2018.
WESTPORT, Conn. (BRAIN) — Compass Diversified, the owner of BOA and Lizard Skins as well as a variety of other middle-market businesses, reported net sales of $488 million in its fiscal third quarter, up from $388 million in the same period last year.
SEATTLE (BRAIN) — Existing investors are pumping another $154 million into Rad Power Bikes, following a $150 million investment announced in February.
BATON ROUGE, La. (BRAIN) — Baseball and softball equipment manufacturer Marucci Sports announced Monday it has acquired Lizard Skins. Terms were not disclosed.
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.
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