This article first appeared on BikeRadar.
According to a press release issued by the Amer Sports Corporation, the high-end carbon wheel and component company was acquired for 50 million USD in an all-cash transaction.
ENVE, formerly known as Edge Composites, was founded in 2005. The company has gained a following for developing high-end carbon road and mountain wheels, seatposts, stems and handlebars. The company manufactures all of its wheels at its headquarters in Ogden, Utah.
According to Jake Pantone, ENVE's director of marketing, it will be business as usual for ENVE. The company will remain in Ogden and the planned move into a new operations and manufacturing faculty will go forward as planned this fall.
"ENVE and Mavic will integrate from a distribution and customer service standpoint where it makes sense, but those plans have yet to be solidified," Pantone said.
In addition to these two wheel companies, Amer Sports also owns Salomon, Wilson, Atomic, Arc'teryx, Mavic, Suunto, Precor, DeMarini and Louisville Slugger.