Mad Fiber, a high-end carbon fiber bike wheel company based in Fremont, has been purchased by an investment firm with its eyes on the global retail stage, Bicycle Retailer reports.
Mad Fiber moved into the old Fremont Essential Baking factory space in 2010. Their carbon fiber wheels have a somewhat unconventional design that has earned the company headlines in the high end cycling world.
We have yet to see a statement from Mad Fiber about the deal, but we will update if we learn more.
A newly formed investment group has purchased carbon wheel manufacturer Mad Fiber, the first of several bike industry acquisitions it’s eyeing in 2013.
Divine Cycling Group was founded in January by Gary Ullman and Dan Devine, who, according to the company’s website, have raised more than $1 billion in capital to grow manufacturing and high-tech companies in the health, fitness, packaging and biotechnology fields. Both have significant experience in corporate acquisitions and mergers, the site says.
Their goal is to acquire and finance small to medium-sized companies in the bike industry that lack the scale and resources to become a global player. The company said it will divvy up its focus, with half of its investments going toward made-in-USA brands and the other half to European and Asian-based manufacturers.
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