Beverly Hills-based private equity firm Regent, which last month acquired French cycling company Mavic from Amer Sports, has purchased the North America cycling business of Dutch-based Accell Group.
The move makes Regent a major player in the cycling industry.
Accell North America owns and operates the Diamondback, Redline and iZip cycling brands and is also the U.S. distributor for the Raleigh, Haibike and Ghost bicycle brands. The combined portfolio will be based in Kent, Wash., and will operate as Alta Cycling Group.
Terms of the transaction were not disclosed.
Last month, Regent added to its portfolio French cycling company Mavic from Amer Sports, a Finland-based sporting goods company. Based in the French Alps, Mavic has been manufacturing bike components, equipment and athletic apparel for consumers and professional cyclists since 1889. The company has been an official sponsor of the Tour de France.
With the addition of the Accell North America brands, Regent has strengthened its performance sports portfolio and has emerged as a significant player in the global cycling industry, said Michael Reinstein, Regent’s chairman.
The Diamondback brand makes mountain and road bikes. Redline makes BMX bikes, and iZip makes bikes with an electric motor and battery to help the rider power up hills and other terrain.
The Accell deal marks the fourth acquisition Regent has completed since the beginning of the year. Aside from Mavic, Regent also purchased the La Senza fashion lingerie business from L Brands Inc. and the Plainville Farms food processing business from Hain Celestial Group.
Regent’s portfolio companies include Sunset and a media portfolio of 18 newspapers and magazines, as well as a range of brands including Sassoon hair care, retailer Lillian Vernon and others.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329. Follow him on Twitter @patmaio.
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