The bike world is mourning the death of Dick Burke, the founder of Trek Bicycle Corp., who died Monday evening at age 73.

Burke founded the company during the 1970s bike boom, when he and his partners saw a need for high-end U.S.-made bikes. The company's first factory was in a red barn in Waterloo, Wisconsin and the company still makes many of its bikes in Wisconsin.

The privately owned company, now run by his son John, does annual sales of about $700 million and sells 1.5 million bikes a year under the Trek, Gary Fisher, Klein and LeMond labels. It supplied the bikes Lance Armstrong used to win all seven of his Tours de France.

Burke was often active in bicycle advocacy and in promoting the industry and sport of cycling.

Greg LeMond, who sold his bike brand to Trek in the early 1990s, called Burke a visionary.

"My heart goes out to the Burke family and the entire extended Trek family," LeMond told VeloNews.

"He was a visionary in the world of cycling and together with his son, John, built an incredible family business. I will always remember him as a man of integrity and he will be dearly missed."