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Specialized and Ritchey create The Epic Team; Tom Ritchey and Mike Sinyard form holding company.

MORGAN HILL, Calif.--(BUSINESS WIRE)--Nov. 8, 1995--Specialized Components and Ritchey Design, Inc. announced today that they are joining forces in a newly formed holding company called The Epic Team.

The alliance brings together the bicycling industry's two best design, development and business minds, Mike Sinyard, founder of Specialized, and Tom Ritchey, founder of Ritchey, both widely recognized as pioneers in the sport of mountain biking and as current leaders in the development of innovative cycling products.

"I have known Tom as a respectful competitor for more than 20 years. Aligning with Ritchey and building on each of our strengths, therefore, makes tremendous strategic sense," said Mike Sinyard. "Both companies are dedicated to creating a safe, enjoyable cycling experience, through innovative and performance products built to meet the sport's world-class athletic demands. Our visions and passions for cycling match exceedingly well, which will enable us to create innovative products and to grow the industry,"

"This agreement provides me with the freedom to focus more completely on design and product innovation while increasing the momentum of Ritchey," said Tom Ritchey. "It enables me to access financial resources, so I can expand the management, operation and development of Ritchey to better serve my customers. It will also enable me to tap into my well of ideas in order to fulfill my dream to design and manufacture a full complement of bicycle components. That's where I feel I can bring the most value to the industry."

Specialized and Ritchey, along with Full Force, will operate as separate companies under the umbrella of The Epic Team.

The companies' physical locations and operations will remain completely separate. Ritchey will maintain its corporate headquarters in Redwood City, CA and Specialized will continue to operate out of its Morgan Hill, CA headquarters. European subsidiaries for both companies will continue to operate under their current structure. Full Force will also continue to operate as a separate entity.

"Customers of both Specialized and Ritchey will see absolutely no difference in the way their relationships are handled," said Ritchey. "Specialized will continue to sell to retailers through its global subsidiary and worldwide distribution network, while Ritchey plans to maintain and grow its relationships with distributors and OEM manufacturers."

Specialized Bicycle Components, based in Morgan Hill, CA, provides innovative and functional bicycles and bicycling accessories. An industry leader for over 20 years, Specialized continues to evolve the sport of cycling through its involvement in events and land access preservation.

Ritchey Design, Inc. is a designer, manufacturer and distributor of high-end cycling components and hand made bicycles. Ritchey, through its headquarters in Redwood City, California, and its sister company, Ritchey International, based in Lugano, Switzerland, has distribution in more than 40 countries worldwide.

CONTACT: Peter Berkowitz

Specialized Bicycle Components

408-779-6229 ext. 2346

or

Hunter Hubby

Ritchey Design

415-368-4018 ext. 323

or

Mary Conway or Cici Gordon

Cone Communications

(617) 227-2111
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Nov 8, 1995
Words:478
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