Amer Sports, owner of Mavic, announces it will buy Enve Composites for $50 million by the end of March.
Amer Sports Corporation, owner of Mavic, announced Monday that it will buy Enve Composites, a Utah-based manufacturer of carbon fiber wheels, components, and accessories for road and mountain bikes.
According to the press statement, Amer will pay $50 million for the company, which has annual sales of $30 million. The deal is expected to be completed by the end of March.
“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,” said Enve CEO, Sarah Lehman.
Enve will remain in Ogden and continue with its plans to move into a new operations and manufacturing facility this fall. Enve’s senior management team, including Lehman, will remain in place.
Amer also owns Salomon, Wilson, Atomic, Arc’teryx, Mavic, Suunto, Precor, DeMarini, and Louisville Slugger.