Cannondale's motorsports ideas go East - BikeBiz

Cannondale's motorsports ideas go East

As rumoured since early summer, Dinli Metal Industrial Company Ltd., a Taiwanese manufacturer of All-Terrain Vehicles, has purchased the intellectual property associated with the motorsports division of the former Cannondale Corporation for an undisclosed sum. Dinli gets the blueprints and other ideas only, it has no rights to the Cannondale name.
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The deal was secured by Moto Assets Acquisition Corp., a divestment business formed by Cannondale's owners, Pegasus Partners II, LP.

MAAC acquired the assets of Cannondale motorsports division following the corporation's filing for Chapter 11 protection.

Pegasus also formed the Cannondale Bicycle Corporation to purchase the assets of Cannondale Corporation's bicycle division.

Cyclist David Uri, a partner at Pegasus and the president of Moto Asset Acquisition Corp.,

said that the sale to Dinli was consistent with Pegasus' stated goal of divesting

itself of the motorsports assets.

"We want to concentrate on growing the Cannondale Bicycle Corporation, and on strengthening and growing one of the premier brands of lightweight, high-performance bicycles in the world," he said.

"We wish Dinli the best of luck in their future pursuits."

There are three main links below, but for a full listing of all the stories this site carried about Cannondale's chapter 11 episode, type 'Cannondale' into the search engine on the upper left of the site.

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