ENVE Composites, a Utah-based company founded in 2007 as Edge Composites and later renamed in 2010, has been sold to PV3, a private investment firm from the state. Amer Sports, which originally purchased ENVE in 2016 for $50 million and has since sold off other brands like Mavic, Precor, and Suunto, sold ENVE to PV3 for an undisclosed sum.
According to Mike Stimola, General Manager of ENVE Composites, the acquisition is an opportunity for the company to take its growth to the next level under local Utah ownership. Stimola will continue in his role and the sale closing is expected in the coming weeks.
PV3 Enterprises, LLC is run by principals Mark Hancock and Blaine Blood. Hancock is a Utah native and cyclist who sees potential in ENVE and is committed to supporting its growth while maintaining its local manufacturing heritage and leadership in composites technology.
ENVE Composites has expanded its product offerings over the years, offering rims before moving on to carbon forks, seatposts, handlebars, stems, and even bike frames as of 2021. The Anta-led group acquired Amer Sports for $5.2 billion in 2019 after it had already sold off other brands like Mavic, Precor
