PV3, a private investment firm based in Utah, has purchased ENVE Composites from Amer Sports. The acquisition is a strategic move for both companies, as ENVE has positive momentum and good potential for future growth.
ENVE Composites was founded in 2007 as Edge Composites and later changed its name to ENVE in 2010. General Manager Mike Stimola sees the acquisition as an opportunity to take ENVE to the next level under local Utah ownership. He will continue in his role, and the sale closing is expected in the next few weeks.
Under Amer Sports’ ownership, ENVE expanded its product offerings to include carbon forks, seatposts, handlebars, stems, and even bike frames. The sale of other brands such as Mavic, Precor, and Suunto by Amer eventually led to its acquisition by the Anta-led group for $5.2 billion in 2019. However, after careful evaluation of ENVE’s brand and potential growth opportunities, Amer decided that it was time for a change of ownership.
PV3 Enterprises LLC is run by experienced entrepreneurs Mark Hancock and Blaine Blood. Hancock is a Utah native and avid cyclist who sees potential in ENVE and is committed to supporting its growth while maintaining its local manufacturing heritage and leadership in composites technology. Crewe Capital advised PV3 on the acquisition with offices in Salt Lake City.
