SRAM has purchased Time Sport Pedal business. The acquisition took place soon after former owners, Rossignol Group, sold the bike part of the business to Cardinal Cycling Group.
SRAM takes ownership of Time's entire range of road and mountain bike pedals, cleats, and all related patents. It already owns Zipp, power meter product family Quarq, as well as RockShox.
Time's clipless pedal system was founded in 1987 and the brand added mountain bike pedals to its armory in 1993. The pedals are known for offering greater lateral float, and coming with a low stack height - with the large cleat contributing to power transfer.
Whilst it's not yet clear what SRAM's intentions with Time are, the acquisition comes soon after the brand chose to discontinue the sale of pedals and hub-based power meters from PowerTap, the business it purchased in 2019.
Commenting on the requisition, SRAM President Ken Lousberg said: “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."
In a separate transaction, Time's bicycle business was purchased by Cardinal Cycling Group. The French-American investment and management group purchased Time bicycle as well as the brand’s carbon-frame factory, RTN, its trademark license and intellectual property for bikes and frames.
Time is one of few brands to own its own factory, representing a unique opportunity, even more so with premises being within Europe, in Vaulx-Milieu, outside of Lyon in France.
Rossignol acquired Time in 2016, soon after the death of founder Rolan Cattin, it continues to own Felt Bicycles.
According to Bicycle Retailer and Industry News (BRAIN), Time has failed to thrive because "its Europe-made frames and bikes couldn't compete on price with Asia-made offerings", and because "Time... failed to keep up with trends," something it reports that Karklins intends to change.
“We’re investing a lot in product development right now and we’ll be working to put new designs into production in the second half of the year,” Karklins told BRAIN.
Cardinal Cycling Group's partners include French engineer Martial Trigeaud, as well as founder of Allied Cycle Works and former managing director of Orbea USA, Tony Karklins.
In his statement, Karklins said: "We are honored to steward Time into the future and to advance Resin Transfer Molding technology in the cycling industry.”
Both SRAM and Cardinal Cycling Group will continue to market products under the Time name, SRAM as Time Sport and Cardinal Cycling Group as Time Bikes.
Customers can still contact Time for product service and support during a transition phase, through mid-year 2021.
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