Industry Digest: More Porsche Investments, Airbag Shorts & More
What's going on in the cycling industry this month? Industry Digest is a peek behind the curtain and showcases articles from our sister site, Bicycle Retailer and Industry News. In each installment, you might find patents, mergers, financial reports and industry gossip.
E-mobility insurance company Laka has secured funding from Porsche Ventures, bringing its Series A investment to $13.5 million.
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Jessica Klodnicki is the new CEO of recovery product company KT Tape. She previously was chief marketing officer of Skullcandy.
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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 manufacturing process from pencil to paint under one roof.
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Shop owner Brad Davis’s career as an e-bike entrepreneur offers a peek inside an often overlooked but increasingly profitable corner of the electric bike market: e-bike conversions.
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HLC is making a CA$250,000 ($193,000) investment in its Wheel Shop, which the distributor said will help better supply North American dealers during a period of supply-chain challenges.
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Shimano's REVO shorts, which are made of upcycled airbag material, won an iF Design Award in the Sport/Bicycle product category. The shorts were entered by Shimano Europe in the Netherlands.
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Bryan Mason was promoted to Pivot Cycles president and will oversee "key departments and management team members" in addition to all of the company's Stuttgart, Germany, operations.
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Compass Diversified, which owns BOA and Lizard Skins, has agreed to buy PrimaLoft, a Latham, N.Y.-based textile company. PrimaLoft makes synthetic insulation primarily used in sports apparel.
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A consortium planning to acquire Accell Group and take it private has said it will move forward with the offer despite not reaching a threshold of 80% of shares committed to the buyout.
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Porsche Ventures invests in e-mobility insurance company Laka
By: Bicycle Retailer and Industry NewsE-mobility insurance company Laka has secured funding from Porsche Ventures, bringing its Series A investment to $13.5 million.
Laka said in a news release that it will use the new capital and network opportunities to help its European expansion in e-scooters, e-mopeds, and eventually electric cars to better serve European partnerships, including manufacturers, retailers, and leasing businesses.
The funding is led by Autotech Ventures and Pon Holdings' Ponooc Investment B.V., which focuses on sustainable energy and mobility solutions, and Dutch bank ABN AMRO. An angel investment in Laka also came from Zwift CEO and cofounder Eric Min in January.
The funding is led by Autotech Ventures and Pon Holdings' Ponooc Investment B.V., which focuses on sustainable energy and mobility solutions, and Dutch bank ABN AMRO. An angel investment in Laka also came from Zwift CEO and cofounder Eric Min in January.
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Jessica Klodnicki named CEO of KT Tape
By: Bicycle Retailer and Industry NewsJessica Klodnicki is the new CEO of recovery product company KT Tape. She previously was chief marketing officer of Skullcandy.
"We are thrilled to welcome Jessica to KT Tape," said Mark Schwartz, director and CEO of Palladin Consumer Retail Partners, KT Tape's majority shareholder. "Her extensive industry expertise, leadership prowess, and collaborative energy make her the perfect choice to lead the company through its next chapter of continued growth and innovation."
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Bridge Bike Works invests in North American carbon fiber bikes, manufacturing
By: Dean Yobbi // Bicycle Retailer and Industry NewsWhen collaborating on a new brand, Michael Yakubowicz and Frank Gairdner didn't just want to build a bike. They wanted to create the entire manufacturing process from pencil to paint under one roof.
Bridge Bike Works is the result, a brand three years in the making and built to design and manufacture carbon fiber frames, forks, and parts in North America. Its 8,200-square-foot facility — 2,000 of which is set aside 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.
Bridge also has ambitions to begin OEM carbon fiber production.
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The e-bike conversion market quietly revs up in the wake of the e-bike boom
By: PAUL TOLMÉ // Bicycle Retailer and Industry NewsShop owner Brad Davis’s career as an e-bike entrepreneur offers a peek inside an often overlooked but increasingly profitable corner of the electric bike market: e-bike conversions.
A decade or more ago, before the industry pivoted and began pumping out e-bikes in all shapes, sizes, and price points, many e-bikes on American 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 wasn’t anything good on 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 all kind of sucked.”
“There wasn’t anything good on 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 all kind of sucked.”
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HLC invests $200,000 in its Quebec Wheel Shop
By: Bicycle Retailer and Industry NewsHLC is making a CA$250,000 ($193,000) investment in its Wheel Shop, which the distributor said will help better supply North American dealers during a period of supply-chain challenges.
HLC said issues with the Asian supply chain, which North American dealers largely depend on, are making it more difficult and expensive to obtain replacement parts, especially wheels. According to HLC, Quebec-made Wheel Shop wheels will help dealers, consumers, and the industry.
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Shimano MTB shorts made of recycled airbag material win iF award
By: Bicycle Retailer and Industry NewsShimano's REVO shorts, which are made of upcycled airbag material, won an iF Design Award in the Sport/Bicycle product category. The shorts were entered by Shimano Europe in the Netherlands.
According to iF Design, the shorts's "airbag fabric is dyed in various colors, and due to its structure, the shorts have a very interesting look and feel.
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Bryan Mason promoted to Pivot Cycles president
By: Bicycle Retailer and Industry NewsBryan Mason was promoted to Pivot Cycles president and will oversee "key departments and management team members" in addition to all of the company's Stuttgart, Germany, operations.
Mason joined Pivot Cycles in 2015 as national sales manager before ascending to 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 enables me to continue focusing on product development, expanding our global production capabilities, and the long-term vision for the company. Bryan's growth mindset will support every department and is a phenomenal asset to Pivot's future."
"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 enables me to continue focusing on product development, expanding our global production capabilities, and the long-term vision for the company. Bryan's growth mindset will support every department and is a phenomenal asset to Pivot's future."
(Read more.)
Compass Diversified to buy PrimaLoft textile company
By: Bicycle Retailer and Industry NewsCompass Diversified, which owns BOA and Lizard Skins, has agreed to buy PrimaLoft, a Latham, N.Y.-based textile company. PrimaLoft makes synthetic insulation primarily used in sports apparel.
PrimaLoft was established in 1983 by Albany International Corporation in response to a U.S. Army request to develop a synthetic insulation for soldiers that replicated the warmth and weight characteristics of traditional goose down, but also remained warm when wet.
Today, PrimaLoft is used by more than 950 brands, including Patagonia, Pearl Izumi and Endura.
Today, PrimaLoft is used by more than 950 brands, including Patagonia, Pearl Izumi and Endura.
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KKR consortium proceeds with Accell Group acquisition despite not reaching share threshold
By: Bicycle Retailer and Industry NewsA consortium planning to acquire Accell Group and take it private has said it will move forward with the offer despite not reaching a threshold of 80% of shares committed to the buyout.
Accell Group said the company and the consortium, which is led by the global investment firm KKR, have agreed to waive the threshold.
The company announced 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, another 4.26% of the shares have been committed, bringing it to 77.8%.
The company announced 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, another 4.26% of the shares have been committed, bringing it to 77.8%.
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As airbag material needs to be impermeable to gasses would this not result in a lot of unwanted sweatiness?
en.m.wikipedia.org/wiki/Elastic_therapeutic_tape
It maybe ok for taping a spare tube to your bike. But that would also be a waste of money.
But high priced ,colourful elastic tape isn’t greaterRA than normal tape it seems.
As my physio is a leader in her field an internationally recognised researcher and practitioner with a phd, multiple peer reviewed publications and is also a post graduate educator.( I think they gave her tape for free) I think your dumbass accusation should be aimed closer to home. @shittybill:
Disclaimer: frustrated and several beverages in whilst typing this comment. Proofread x12. Hopefully my disdain for Canadian Tire shone through as grammatically correct. Matter of fact, throw Toys R Us, Walmart and half of Sportchek under the same bus.