ENVE Composites, a company that produces carbon components for bicycles, has been sold to PV3, a private investment firm based in Utah. The sale was announced by Amer Sports, the previous owner of the company. ENVE’s General Manager, Mike Stimola, will continue leading the company as it transitions to local ownership.
The decision to sell ENVE was made by Amer Sports after undergoing major changes in recent years and divesting several other brands including Mavic, Precor, and Suunto. The acquisition is expected to be finalized in the coming weeks. PV3’s principals, Mark Hancock and Blaine Blood, are experienced entrepreneurs with a passion for cycling and a commitment to upholding ENVE’s reputation as a leader in composites technology.
Hancock emphasized his dedication to maintaining ENVE’s strong foundation as a local manufacturer while supporting its evolution and expansion in the cycling industry. Crewe Capital, a Salt Lake City-based investment bank, advised PV3 in the acquisition of ENVE Composites.
The sale represents a new chapter for the brand as it enters into a phase of development under the guidance of seasoned industry professionals who share a vision for its future success. This story will continue to evolve as the transition unfolds.
