In a press release from 22 February, Amer Sports, owner of Solomon, Mavic, Wilson, Atomic, Arc’teryx, Suunto and Precor has announced they will be acquiring Utah-based composites manufacturer ENVE Composites and the deal will be settled by the end of March 2016 to a tune of $50 Million USD.
ENVE Composites yearly turn over amounts to $30 Million USD and ENVE CEO Sarah Lehman commented on the recent deal, “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,”
The intellectual property patented to ENVE relating to aerodynamic rim design and composite rim construction will now belong to the owners of one of ENVE’s opponent wheel manufacturers, Mavic. These have been areas that Mavic have struggled with in the past.
The acquisition accelerates Amer Sports cycling business especially in the United States and offers further international expansion opportunities for both organisations.
ENVE will continue to operate in their Ogden, Utah manufacturing facility and the senior management team, including Lehman, will remain in place.