Iconic French brand Mavic, was sold in July 2019, completing a deal that was first announced on 15th March. Previous owner Amer Sports, a European based sporting conglomerate, sold Mavic to Regent, a USA based private equity firm.
Amer also purchased ENVE wheels in 2016 for US$50 million (A$74 million), but ENVE was not part of the sale to Regent.
Meanwhile in August Regent purchased Diamondback Bicycles, Redline Bicycles and other brands from Netherlands based Accell Group.
Regent which was founded by lawyer Michael Reinstein in 2013, and based in Beverley Hills, California owns a diverse portfolio of businesses from media to technology, hair salons, food and fashion. There appears to be very little information and no photographs available of Mr Reinstein and no answer to the obvious question of why he is suddenly buying major bicycle brands which have no apparent connection whatsoever to his other business interests.
Although prices of his bicycle industry purchases have not been disclosed, one common thread may be that he seems to specialise in buying businesses that have been losing money in recent years at low prices. One media report claims that when he bought Sunset, a 120 year old Californian lifestyle magazine, he cut the staff from 100 to 20.