Amer Sports, the parent company of Enve Composites, has filed for U.S. initial public offering (IPO). Currently a privately held company, this move would see Amer Sports go public for the first time in the U.S., meaning that people can buy a share of the company and become minor owners.
Going public through an IPO allows the company to sell shares to a larger pool of investors on public stock exchanges, in this case, the New York Stock Exchange (NYSE), which can raise significant capital for the company. When Amer Sports goes public, it's anticipated that the company could be valued as high as $10 billion. However, details about the number of shares available for purchase and their prices have yet to be disclosed.
Amer Sports bought the Utah-based Enve Composites in 2016 for $50 million. In addition to Enve, Amer Sports also owns notable outdoor brands like Arc'teryx, Atomic, Wilson Sporting Goods, Armada, Louisville Slugger, DeMarini, Sports Tracker, and Luxilon. Amer also previously owned wheel manufacturer Mavic, fitness wearables brand Suunto and the fitness brand Precor.
These were sold in 2019, around the same time when Amer was acquired by Anta Sports for $5.2 billion. Prior to the Anta acquisition, Amer Sports traded on the Helsinki market but was made private in 2020. Now, Amer Sports wants to make a big comeback by becoming a publicly traded company in the U.S.
Enve has been making some big moves of its own as well. Just three years after manufacturing its first complete bike frame, Enve will enter the WorldTour this season with its Melee – the new team bike of the Total Energies team.
Enve was already present in the pro peloton as a wheel and components sponsor. Tadej Pogačar and his UAE Team Emirates have been riding the SES line of wheels and SES Aero One-Piece Bars – which were designed to meet the team's demands, specifically – and will continue to do so in 2024. Similarly, Ivan Basso and Alberto Contador's project, Team Polti Kometa, also continues to make use of Enve's wheels and components.
Enve declined to comment about Amer's move into the public trading space.
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