OGDEN, Utah — Amer Sports, the parent company of ENVE Composites, announced that ENVE has been acquired by PV3. PV3 is a Utah-based private investment company whose owners are avid cyclists and have been familiar with the brand for years.
Michael Hauge Sorensen, Chief Operating Officer of Amer Sports, said: We believe the brand has positive momentum and good potential. However, after a thorough strategic assessment, we have concluded that the next stage of development should take place under new ownership. We believe that PV3 is the perfect owner to enable and drive his next phase of growth for ENVE. ”
ENVE Composites was founded in 2007 and is one of the few American cycling brands that manufactures in America. The company’s dedication to high-performance products and in-house manufacturing has enabled it to become an innovation leader in wheels, components and bicycles, while partnering with many of the world’s best athletes.
In 2016, ENVE moved to its headquarters in Ogden, Utah. The 80,000 square foot building houses engineering, research and development, manufacturing, sales, marketing, customer service and finance functions, providing employment opportunities for the local community. PV3 is dedicated to maintaining his ENVE legacy as a Utah-based manufacturer and leader in composites technology.
“We are confident in the direction ENVE’s management team is taking the company, and we look forward to continuing to build on the brand’s legacy as a performance leader and American manufacturer while providing the support necessary for continued growth.” PV3 President Mark Hancock said.
ENVE General Manager Mike Stimola said: “This is an opportunity to take his ENVE to the next level through local Utah ownership.The current bike market is tough, but ENVE is growing based on product innovation and the partnership of a professional team. .”
Mike Stimola will be invited to join Amer Sports in January 2023 and continue in his current role. With the acquisition complete, ENVE’s operations will continue as usual. Closing is expected to occur in the coming weeks, and both parties have agreed not to disclose transaction details.
For more information, please contact us below.
Neil Shirley – [email protected]
ENVE Composite LLC
508 W. Stockman Way
Ogden, Utah 84401
About Envy
ENVE Composites, located in Ogden, Utah, is a manufacturer of handmade carbon fiber bicycle frames, rims, and components. ENVE partners with the world’s best athletes and combines the best composite materials.
With technology that incorporates feedback from real-world athletes, we offer our customers the ultimate in performance, durability, and quality. ENVE designs and manufactures 100% of his rims and custom road bikes at his Ogden, Utah, USA facility.
About Amer Sports
Amer Sports is a global group of iconic sports and outdoor brands including Arc’teryx, Salomon, Wilson, Peak Performance and Atomic. Our brands are known for their precision craftsmanship, unwavering reliability, and premium market position. As creators of superior apparel, footwear and equipment, we pride ourselves on cutting-edge innovation, performance and design that enable elite athletes and everyday consumers to perform at their best. With over 11,400 employees worldwide, Amer Sports’ purpose is to improve the world through sport. Our vision is to become the world leader in premium sports and outdoor brands. With headquarters in Helsinki, Munich, Krakow, New York and Shanghai, we operate in over 40 countries and our products are sold in over 100 countries. Amer Sports, Inc.’s stock is listed on the New York Stock Exchange. For more information, please visit www.amersports.com.
About PV3
PV3 is an experienced and successful entrepreneur.
Cycling enthusiast.
