Wayne Lumpkin acquires Spot Brand
GOLDEN, CO—Wayne Lumpkin, founder of Avid, has acquired Spot Brand, manufacturer of mountain, cyclocross and commuter bikes and integrator and distributor of Gates Carbon Drive belt systems through CD Enterprises. Terms of the deal were not disclosed.
“I feel very, very fortunate that Wayne chose to become involved with Spot Brand,” said Frank Scurlock of Spot. “He brings with him 20 years of innovation, brilliant designs and a level of business success that has rarely been seen in the bike industry. Wayne’s passion for the sport is motivation in itself, and his passion is certain to propel Spot Brand to new levels of success in the very near future.”
Lumpkin commented, “Spot is a brand that I always felt had the ‘right stuff’ with tons of potential for the future.”
Scurlock has retained an interest in Spot Brand and will continue his responsibilities at Spot Brand and CD Enterprises.
Andrew Lumpkin, formerly of Avid, will lead the management team at Spot Brand.
Operations will continue in Golden, CO, and Spot customers should not experience any interruptions in business.
Note: Spot Brand and Maverick share office space, but there is no common ownership between the companies currently nor has there been in the past.
About Spot Brand
Spot Brand is made up of dedicated cyclists who are committed to transforming their passion of cycling into innovative products made of the utmost quality.
Founded in 1997 by Michael Golinski and Jessica Stein, Spot Brand was a pioneer of singlespeed mountain bikes. Today, Spot Brand manufactures handmade singlespeed, 9-speed mountain bikes, cyclocross and commuter bikes. Spot Brand continues on an innovative path with Spot Brand bikes, integrating Gates Carbon Drive belt systems across many bicycle platforms, and offering high quality, well-conceived components and soft goods.
source: Andrew Lumpkin