SRAM Purchases TIME Sport Pedal Business from Rossignol Group
Announced today, SRAM continues its longstanding tradition of strategic acquisition, this time acquiring TIME's collection of road and mountain bike pedals, cleats and patents from the Rossignol Group. Read on below for all the details on the transaction and next steps for the organization.
SRAM is proud to announce the acquisition of the entire range of road and mountain pedals, cleats, and all related patents of TIME Sport from Rossignol Group. The companies completed the transaction on February 18, 2021.
Founded in Nevers, France, in 1987, TIME’s clipless pedals system redefined ergo-dynamic compliance for riders by improving lateral and angular float, perfecting their balance between performance and comfort. TIME added mountain bike pedals in 1993. Their road and MTB pedals have been ridden to victory by legends, including Julien Absalon, (FRA), Greg LeMond (USA), Tom Boonen (BEL), Anna van der Breggen (NED), and Miguel Indurain (ESP).
“TIME is a legendary brand and was the first to focus on ergonomics through the pedal stroke. We will work to preserve TIME’s history and heritage, and continue their legacy of innovation and quality.” - SRAM President Ken Lousberg.
SRAM historically has expanded its product platforms through organic product development focused on innovation, and integrative acquisitions. SRAM’s strategic acquisitions include RockShox, Avid, Zipp, Truvativ, and Quarq.
In a separate transaction, TIME’s bicycle business has been purchased by Cardinal Cycling Group, including all related patents, trademarks and ownership of the TIME’s RTM composites factory. Cardinal Group ownership includes American Tony Karklins, the founder of Allied Cycle Works and former Orbea USA Managing Director, and Frenchman Martial Trigeaud, industrial engineer and former elite bike racer.
“TIME is a brand full of passion, history and true innovation. We are honored to steward TIME into the future and to advance Resin Transfer Molding technology in the cycling industry.” - Cardinal Cycling Group Partner Tony Karklins.
Both companies will continue to market products under the TIME name. SRAM will focus relevant external communications as TIME Sport, and Cardinal Cycling Group will utilize TIME Bikes. Customers will continue to contact TIME for product service and support during a transition phase through mid-year 2021.