Cardinal Cycling Group Purchases Bicycle Business and RTM Composite Factory.
Rossignol Group and SRAM announce SRAM’s acquisition of the entire range of road and mountain pedals, cleats, and all related patents of TIME Sport. The companies completed the transaction on February 18, 2021.
Founded in Nevers, France, in 1987, TIME’s clipless pedals system redefined ergo-dynamic compliance for riders by improving lateral and angular float, perfecting their balance between performance and comfort. TIME added mountain bike pedals in 1993. Their road and MTB pedals have been ridden to victory by legends, including Julien Absalon, (FRA), Greg LeMond (USA), Tom Boonen (BEL), Anna van der Breggen (NED), and Miguel Indurain (ESP).
“TIME is a legendary brand and was the first to focus on ergonomics through the pedal stroke. We will work to preserve TIME’s history and heritage, and continue their legacy of innovation and quality,” SRAM President Ken Lousberg said.
SRAM historically has expanded its product platforms through organic product development focused on innovation, and integrative acquisitions. SRAM’s strategic acquisitions include RockShox, Avid, Zipp, Truvativ, and Quarq.
In a separate transaction, TIME’s bicycle business has been purchased by Cardinal Cycling Group, including all related patents, trademarks and ownership of the TIME’s RTM composites factory. Cardinal Group ownership includes American Tony Karklins, the founder of Allied Cycle Works and former Orbea USA Managing Director, and Frenchman Martial Trigeaud, industrial engineer and former elite bike racer.
“TIME is a brand full of passion, history and true innovation. We are honored to steward TIME into the future and to advance Resin Transfer Molding technology in the cycling industry,” said Cardinal Cycling Group Partner Tony Karklins.
“I’m thrilled that we have found two exceptional buyers for TIME. Each brings unique strengths to drive the great TIME brand forward,” said Rossignol Sr. VP Bike Division, Scott Rittschof. He added, “Bikes remain a strategic focus for the Group. We will now focus our resources and core activities on Rossignol mountain and e-mountain bikes and on Felt road and triathlon bikes. The worldwide enthusiasm for bikes and the opportunities we see across the Rossignol and Felt brands support our belief in this focused approach.”
Both companies will continue to market products under the TIME name. SRAM will focus relevant external communications as TIME Sport, and Cardinal Cycling Group will utilize TIME Bikes. Customers will continue to contact TIME for product service and support during a transition phase through mid-year 2021.