STEAMBOAT SPRINGS, Colo. (BRAIN) — Moots Cycles announced Thursday that longtime owner Chris Miller has sold the titanium bike and component manufacturer to Brent Whittington, a former executive officer for Windstream Holdings, Inc, a Fortune 500 telecommunications company.
Whittington, a passionate mountain biker and road cyclist, purchased a 100 percent ownership stake in the company along with the Moots factory building in Steamboat Springs. Moots' world headquarters will remain there and all current employees, including company president Butch Boucher, will remain in place, the company said.
"It's incredible for me to have this unique opportunity to own one of the most respected cycling brands in the industry," said Whittington. "I'm excited to help the Moots team continue to develop their innovative designs as the brand prepares to celebrate its 35th anniversary in 2016. Maintaining its high quality standards, focusing on its handcrafted heritage and helping to support its talented team will be my main priorities as we embark on the next level of growth and service with our customers, dealer partners and distributor partners worldwide."
Miller said, "I'm very pleased to pass the Moots torch to an individual who possesses both a true love of cycling and a great depth of business experience ... Brent embodies everything we were looking for in the new Moots owner. The energy, skill set and business experiences he'll bring to Moots will continue to keep Moots a strong industry brand and certainly signifies a bright future for the company."
Boucher said, "Since Chris purchased Moots in 1995, the company has experienced steady growth, elevated innovation standards in titanium bikes and positioned itself well for continued success ... It's definitely an exciting time for everyone at Moots and I'm looking forward to leading this business as we begin a new chapter."
Whittington, 44, served as COO at Windstream Holdings from 2009 to 2014. He oversaw the company's business sales and service, network operations, engineering, information technology and enterprise marketing. Prior to that role, he served as executive vice president and CFO of Windstream from 2005 to 2009. He has been an independent director at RigNet, Inc., a leading global provider of digital technology solutions to the oil and gas industry, since 2010. He serves on the board of trustees of The Nature Conservancy of Arkansas.
The sale is effective immediately. Financial terms were not disclosed.
