Industry roundup: More Porsche investment, inflatable shorts and more

What’s happening in the cycling industry this month? Industry Summary is a behind-the-curtain look and features articles from our sister site, Bicycle Retailer and Industry News. In each installment, you might find patents, mergers, financial reports, and industry gossip.

Porsche Ventures invests in e-mobility insurance company Laka

By: Bike Retailer & Industry News

Electric mobility insurance company Laka has secured funding from Porsche Ventures, bringing its Series A investment to $13.5 million.

Laka said in a press release that it will use the new capital and network opportunities to help its European expansion into electric scooters, electric mopeds and eventually electric cars to better serve European partnerships, including manufacturers. , retailers and leasing companies.

The funding is led by Ponooc Investment BV of Autotech Ventures and Pon Holdings, which focuses on sustainable energy and mobility solutions, and Dutch bank ABN AMRO. An angel investment in Laka also came from Zwift CEO and co-founder Eric Min in January.

(Read more.)

Jessica Klodnicki named CEO of KT Tape

By: Bike Retailer & Industry News

Jessica Klodnicki is the new CEO of recovery products company KT Tape. She was previously Marketing Director of Skullcandy.

“We are delighted to welcome Jessica to KT Tape,” said Mark Schwartz, Director and CEO of Palladin Consumer Retail Partners, KT Tape’s majority shareholder. “Her broad industry expertise, leadership prowess and collaborative energy make her the ideal choice to lead the company through its next chapter of continued growth and innovation.”

(Read more.)

Bridge Bike Works invests in making North American carbon fiber bikes

By: Dean Yobbi // Bike Retailer and Industry News

When collaborating on a new brand, Michael Yakubowicz and Frank Gairdner didn’t just want to build a bike. They wanted to create the entire process from pencil to paint under one roof.

Bridge Bike Works is the result, a brand in development for three years and designed to design and manufacture carbon fiber frames, forks and parts in North America. Its 8,200 square foot facility — 2,000 of which is reserved for showroom and office space — is in Toronto, with the first pre-production prototype completed this week for testing. Production bikes are expected by August, with 60 pre-orders filled.

Bridge also has ambitions to begin OEM carbon fiber production.

(Read more.)

The e-bike conversion market is quietly accelerating in the wake of the e-bike boom

By: PAUL TOLMÉ // Bike Retailer and Industry News

Shop owner Brad Davis’ career as an e-bike entrepreneur offers insight into an often overlooked but increasingly profitable corner of the e-bike market: e-bike conversions.

A decade or more ago, before the industry pivoted and started churning out e-bikes of all shapes, sizes, and prices, many e-bikes on America’s streets were DIY retrofits. Early adopters had to figure out how to install a motor and battery system themselves or find a shop to do it.

“There was nothing good in the market,” said Davis, who saw an opportunity. Thirteen years ago he co-founded EcoSpeed, an early e-bike conversion kit that never really took off. “The batteries are all sort of sucked in.”

(Read more.)

HLC invests $200,000 in its Quebec Wheel Shop

By: Bike Retailer & Industry News

HLC is investing CA$250,000 ($193,000) in its Wheel Shop, which the distributor says will help better stock North American dealerships during a time of supply chain challenges.

HLC said problems with the Asian supply chain, on which North American dealerships largely depend, are making it harder and more expensive to obtain replacement parts, especially wheels. According to HLC, Wheel Shop wheels made in Quebec will help dealers, consumers and the industry.

(Read more.)

Shimano MTB shorts made from recycled airbag material win iF award

By: Bike Retailer & Industry News

Shimano’s REVO shorts, made from recycled airbag material, won an iF Design Award in the Sport/Cycling product category. The shorts have been entered by Shimano Europe in the Netherlands.

According to iF Design, the “airbag fabric” of the shorts is dyed in different colors, and due to its structure, the shorts have a very interesting look and feel.

(Read more.)

Bryan Mason Promoted to President of Pivot Cycles

By: Bike Retailer & Industry News

Bryan Mason has been promoted to President of Pivot Cycles and will oversee “key departments and members of the management team” in addition to all company operations in Stuttgart, Germany.

Mason joined Pivot Cycles in 2015 as National Sales Manager before becoming Global Sales Manager in 2019.

“Bryan understands the dynamics of our leadership team, which is made up of very dedicated individuals,” said CEO Chris Cocalis. “His new role helps support Pivot’s tremendous growth and allows me to continue to focus on product development, expanding our global manufacturing capabilities and the company’s long-term vision. Bryan’s growth spirit will support all departments and is a phenomenal asset to the future of Pivot.”

(Read more.)

Compass Diversified acquires textile company PrimaLoft

By: Bike Retailer & Industry News

Compass Diversified, which owns BOA and Lizard Skins, has agreed to buy PrimaLoft, a textile company based in Latham, NY. PrimaLoft manufactures synthetic insulation primarily used in sportswear.

PrimaLoft was created in 1983 by Albany International Corporation in response to a request from the United States military to develop a synthetic insulation for soldiers that replicated the warmth and weight characteristics of traditional goose down, but also remained warm when down. he was wet.

Today, PrimaLoft is used by over 950 brands, including Patagonia, Pearl Izumi and Endura.

(Read more.)

KKR consortium completes acquisition of Accell Group despite failing to meet share threshold

By: Bike Retailer & Industry News

A consortium planning to acquire Accell Group and take it private said it would go ahead with the offer despite not meeting the 80% threshold of the shares committed to the takeover.

Accell Group said the company and the consortium, which is led by global investment firm KKR, have agreed to waive the threshold.

The company announced on June 3 that 73.53% of its shares had been tendered or committed to accept a buyout at 58 euros ($61.02) per share. Since then, an additional 4.26% of the shares have been pledged, bringing the percentage to 77.8%.

(Read more.)


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