Amer Sports, which owns ENVE Composites, recently announced the sale of ENVE to PV3, an investment firm located in Utah.
Originally established in 2007 under the name Edge Composites and rebranded to ENVE Composites in 2010, the company is recognized for its production of cycling wheels, components, and bicycles within the United States. Amer Sports took ownership of ENVE in 2016, purchasing the company for $50 million.
By 2016, ENVE had relocated to a new 80,000 square foot facility in Ogden, Utah, which accommodates its engineering, research and development, manufacturing, sales, marketing, customer support, and financial operations.
PV3, led by cycling aficionado Mark Hancock, serves as his family’s holding company. Hancock is committed to preserving ENVE’s reputation as a pioneering manufacturer of composite materials based in Utah.
Mike Stimola, who was appointed General Manager of ENVE by Amer Sports in January 2023, will retain his position, ensuring that business operations proceed without interruption. The finalization of the sale is anticipated in the coming weeks, and the details of the transaction will remain confidential.
