Mavic parent company Amer Sports buys ENVE
ENVE Composites is a manufacturer of high end carbon cycling components that is based out of Ogden, Utah.
While the headline may read Mavic’s parent company buys ENVE, the truth is that Finland-based Amer Sports owns a half dozen of the world’s most recognizable outdoor sports brands, including Arc’teryx, Salomon, Wilson, Atomic, Suunto, Precor, and Louisville Slugger.
ENVE, which was founded in 2005 under the name Edge Components, has a portfolio that includes high end carbon wheels, components, and accessories for both road and mountain bike. Its expertise in carbon technology, operational scale, and inroads into the U.S. market will help fast track Amer’s cycling business, according to a press release.
Last year, total annual sales for ENVE was approximately $30 million. Amer acquired the brand in all-cash transaction for $50 million.
Regarding the sale, ENVE CEO Sarah Lehman said that, “After owning the business for over 10 years and growing the company to the strong brand that exists today, the ENVE owners felt that Amer Sports would be good stewards of the brand and a great home for our employees.”
According to the official press release, ENVE will remain in Utah and continue with plans to move into a new operations and manufacturing facility this fall. ENVE’s Senior management team, including Lehman, will remain at ENVE as well.
For more information visit ENVE.com
The post Mavic parent company Amer Sports buys ENVE appeared first on Mountain Bike Review.