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."
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