Component manufacturer SRAM has confirmed its intent to purchase specialist wheel maker Zipp. The purchase of the company is due to complete within two months.
The take-over will not cause any redundancies, and Zipp’s current manufacturing and distribution infrastructure will remain as it is now.
Stan Day, CEO of SRAM says: ?Zipp is a great company and respected brand, with a strong management team, advanced technology and superb manufacturing capability. We look forward to bringing both successful companies together and synergistically delivering a growing strategic range of products to our customers.?
Andy Ording, President of Zipp says: ?Zipp has remained focused on market defining technology development in advanced composites and aerodynamics. After nearly two decades of carbon product manufacturing the SRAM opportunity provides additional horsepower and improved global market leverage. SRAM has a fine reputation for acquisitions and culture integration, affording us the opportunity to broaden our foundation on which the Zipp team can build for the long term.?
SRAM has recently launched two road groupsets onto the market in a bid to take on the established component giants Shimano and Campagnolo. Zipp is best know for its aerodynamic carbon-fibre wheelsets, which are often the hoops of choice for the pros.