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FRENCH CYCLING ICON
MAVIC TO BE TAKEN OVER BY NORWEGIAN CYCLING TECH COMPANY?
Over the past eight weeks, the Norwegian company Kindernay has been in a process to acquire the French wheel maker
Mavic.
Mavic was the first company that saw the potential of the innovative Kindernay gear technologies, and supported CA Tech so that the project could get started. Unfortunately,
Mavic has recently run into financial problems, and is under administration. Hundreds of jobs are at stake.
The CA Tech team of cycling industry specialists in Oslo, supported by the board, advisors, investors, and professional legal and transaction service team in France, worked tirelessly around the clock to build a sound plan and garner the support needed to save
Mavic.
Kindernay/CA Tech is now among the front runners to win the bid for
Mavic. The final decision is expected by the French court Tuesday, July 21st.
We interviewed the founder and CEO of Kindernay/CA Tech, Christian Antal, about this exciting transaction.
Q: Why is Kindernay pursuing buying
Mavic?
A: First of all,
Mavic is a legendary brand with a long history. It has a well-established product portfolio, which we believe is an excellent fit with our gear products and technologies, and our soon to be revealed efforts to create the driveline of the future. Combined, we believe we can rebuild
Mavic as a European cycling giant.
Q: What is your offer?
A: We are offering to take over approx. 100 employees from old
Mavic, and invest significantly financially, strategically, and industrially in rebuilding the company. We would reenergize the R&D and innovation function, strive for production excellence, and continue to build on the global sales and marketing activities.
Q: What is your vision for the combined Kindernay and
Mavic?
A: Kindernay’s vision is to develop cutting
edge technology to make biking more enjoyable. Our internal gear products and other products that are in development are good examples of this. Keeping the best from the existing
Mavic product portfolio, reemphasizing quality, and building from there is in my mind the right approach.
Q: Why is Kindernay a good owner of
Mavic?
A: I believe our combination of deep understanding of the cycling industry combined with our exciting product portfolio and R&D competence is our core strength. We are ambitious and bold and have experience in raising money. We raised 5 MEURO in just a few weeks at the end of this process.
Q: What if somebody else wins and Kindernay is runner up?
A: We will wish the new owners the best of luck. It’s important to create great companies and good jobs for employees and communities. CA Tech will continue our strategy of building a global bike supplier with a base in Europe and Norway. 2021 will be a super exciting year for Kindernay with some very exciting new products to be launched.
