Ownership
Originally a privately held company, Cannondale became a $22 million IPO in 1995. The business continued as a publicly traded company until declaring bankruptcy on January 29, 2003. Cannondale's full assets were then purchased at auction by Pegasus Partners II, L.P. The motor-sports IP, manufacturing equipment and inventory were quickly sold off as the company returned its focus to bicycle manufacture.
In February 2008, Dorel Industries, a Canada based diversified consumer products company, announced the purchase of Cannondale from Pegasus for approximately $200 million. Dorel also owns Pacific Cycle which is a distributor of bicycles made in Taiwan and the People's Republic of China for sale under many historic U.S. cycle brands, including Schwinn, Mongoose, Roadmaster, and GT.
Read more about this topic: Cannondale Bicycle Corporation
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