Amer Sports Sells ENVE Composites to PV3: New Ownership for a Cycling Brand Leader

PV3 Acquires ENVE Composites from Amer Sports

In a surprising turn of events, Amer Sports, the parent company of ENVE Composites, has announced the sale of ENVE to PV3, a Utah-based private investment firm. This move comes after ENVE has undergone significant changes in recent years, with the brand showing positive momentum and potential for growth.

ENVE Composites, originally founded as Edge Composites in 2007 before rebranding in 2010, is known for manufacturing high-quality wheels, components, and bikes in the United States. After being acquired by Amer Sports in 2016 for $50 million, ENVE moved its operations to a state-of-the-art headquarters in Ogden, Utah.

PV3, the family holding company of cycling enthusiast Mark Hancock, has expressed dedication to preserving ENVE’s legacy as a Utah-based manufacturer and a leader in composites technology. Hancock believes that under PV3’s ownership, ENVE can reach new heights and continue to innovate in the cycling industry.

ENVE’s General Manager, Mike Stimola, who was appointed by Amer Sports in January 2023, will remain in his current role as ENVE transitions to its new ownership. The company’s operations are expected to continue as usual, with the closing of the acquisition set to take place in the coming weeks.

Both Amer Sports and PV3 are confident in ENVE’s management team and their ability to steer the brand towards continued success. With a focus on product innovation and strategic partnerships, ENVE is poised to thrive under PV3’s ownership and further solidify its position as a performance leader in the cycling world.

As the details of the transaction remain undisclosed, the cycling community eagerly awaits to see how ENVE will evolve under its new ownership and what exciting developments lie ahead for this iconic brand.