Amer Sports, the parent company of Mavic, Salomon, and Suunto, purchased ENVE Composites for $50 million in cash. ENVE Composites is based in Ogden and produces carbon fiber wheels and bike parts including stems, bars, and seatposts.
Sarah Lehman, CEO of ENVE, commented on the sale, “After owning the business for over ten 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.”
ENVE will remain in Ogden. They are working on a new facility in Ogden that will house the company headquarters, as well as manufacturing, research and development, sales, and marketing. The new building will be finished in Fall of 2016.
All jobs are expected to be preserved. Amer Sports, and subsidiaries Mavic, Salomon, and Suunto also have facilities in Ogden.
According to company spokesman Heli Harri, “Both Enve and Mavic will continue as distinct, well-identified brands.” The acquisition of ENVE is part of Amer Sports plan for growth in cycling.
Amer Sports company philosophy would indicate that ENVE will continue to grow, “As long as we own an asset, we aim at growing its revenue, make profits, and invest for its future.”