04 Feb - Cannondale
Acquired By Doral, Parent Company of Pacific Bicycle - Dorel Industries, based in Montreal
and parent company of Pacific Cycle, bought Cannondale Bicycle
Corporation today in an all-cash deal that is estimated to be
valued at between $190 - $200 million. Pacific Cycle is better
known by some of the more famous brands it had acquired before
it was acquired by Dorel: Schwinn, GT and Mongoose. Connecticut-based
Cannondale along with it's apparel company, Sugoi, was previously
acquired by Pegasus Capital Advisors in 2003 for about $80 million
($25m in invested capital before it went bankrupt + $55m for
the final acquisition). A pretty tidy profit for Pegasus, to
say the least. According to VeloNews and other sources, Dorel's
recreational/leisure segment will be split into two separate
divisions. The Cannondale Sports Group (C'dale, GT, Sugoi, &
perhaps Schwinn & Mongoose) will target the independent bicycle
dealers and be separate from the mass-market line, Pacific Cycle,
InStep, Playsafe and Roadmaster. Read the VeloNews story HERE.
July 12, 2006 - RECALL NOTICE: Shimano
Quick Release Skewers - Shimano, in coordination with
the Consumer Product Safety Commission, has voluntarily recalled
approximately 8,500 front wheel quick release skewers produced
after November 1, 2005. The recall affects 105, Ultegra, DuraAce,
XT, XTR and other product lines. For complete details see Shimano's
Recall Notice or the one posted on the CPSC's
Web Site. Please note that bike shops or dealers who
sold bikes or hubs with the recalled skewers will not necessarily
be contacting customers; therefore, do yourself a favor and check
your skewers to see if you're affected by this recall.
JUNE 22, 2006 - RECALL NOTICE:
Specialized S-Works Carbon Stem - As reported by Bicycle Retailer & Industry
News, the U.S. Consumer Product Safety Commission and Specialized
announced a voluntary recall of about 2,700 Specialized bicycles
fitted with S-Works carbon stems featuring magnesium faceplate.
The faceplates on the recalled stems can crack and allow the
handlebar to break off the bicycle, posing a serious fall hazard.
Specialized has received five reports of the magnesium faceplate
exhibiting cracks. No injuries have been reported. You can read
more about the recall at the CPSC Website HERE.
Jun 20, 2005 - - Nashbar
Direct Announce Recall of Bicycle Trailers - In cooperation with the U.S. Consumer Product
Safety Commission (CPSC), Nashbar Direct, of Canfield, Ohio is
voluntarily recalling 300 Nashbar 2005 Lil' Shadow Tandem Trailers.
The bicycle trailers can become unstable when changing directions
due to incorrectly assembled hitch mechanisms, posing a risk
of injury to the riders. Link to CPSC Notice is here: http://www.cpsc.gov/cpscpub/prerel/prhtml05/05581.html
Jan 27, 2005 - Shimano has recently become aware of
a potential problem with Road Brake Cables sold as after market
product and is conducting a voluntary recall. Please read the
following for details: http://bike.shimano.com/publish/content/cycle/sac/us/en/news_and_information/news/shimano_recalls_aftermarket.html
May 6, 2004 Shimano
Issues Recall On SM-SL92 Cleats
- Shimano, in cooperation with the Consumer Produkt Safety Commission,
has issued a formal product recall on the SM-SH92 cleats sold
as after market. The cleats are compatible and are designed to
be used with all Shimano SPD-R pedal models - PD-7700 / 7701
/ 6680 / 6601 / 5500 / R53. You can read the formal recall notice
at Shimano's Web site here: http://www.totalbike.com/news/article/870/
Mar 3, 2004 - Advanced Transportation
Products, aka Vision, Has Apparently Gone The Way of the DoDo
Bird - While rumored
to be out of business, an eagle-eyed Double Vision owner -- Roman
Myszczak of the Chicago Area Tandem Society (CATS) -- found a
link to
an auction of what appear to be ATP's capital assets. The
first indications that Greg Bower's Advanced Transportation Products
(ATP) in Seattle, WA, had closed up shop were unanswered Emails,
a dead Web site, and lots of discussions regarding their status
on the recumbent forums. The folks at Bicycle Retailer &
Industry News are trying to put together a story on "what
happened" but as of yet have not been able to contact any
of ATP's principles. As I think back on this year I'm reminded
that in August of 2002 another recumbent manufacturer -- Bike
E -- unexpectedly closed up shop. While the feeling is that recumbent
sales are still strong, one has to wonder what the future holds
given the demise of these two, relatively recognizable brands.
Apr 08, 2003 - (PRNewswire)
Cannondale Acquired By Pegasus Partners II, LLP - (BETHEL,
Conn., April 8 /PRNewswire-FirstCall) -- Cannondale (BIKEQ.PK)
announces that on March 28, 2003 the U.S. Bankruptcy Court for
the District of Connecticut (Bridgeport Division) approved the
Asset Purchase Agreement by and between Cannondale and Pegasus
Partners II, L.P. ("Pegasus"). Pursuant to the terms
of the Asset Purchase Agreement, substantially all of Cannondale's
assets, including the Company's bicycle and motorsports divisions
are to be purchased by affiliates of Pegasus. The sales of the
assets of both divisions were conducted pursuant to an auction
under Section 363 of the United States Bankruptcy Code and will
be sold free and clear of all liens, claims, interests and encumbrances.
The Company anticipates closing the asset purchases prior to
the end of April 2003. http://news.findlaw.com/prnewswire/20030409/09apr2003221640.html
Jan 30, 2003 - (cannondale.com)
Cannondale Files Voluntary Chapter 11 Petition - (Bethel,
CT - 1/30/03) Cannondale Corporation (Nasdaq: BIKE) filed a voluntary
petition for reorganization under Chapter 11 of the U.S. Bankruptcy
Code late yesterday. The Company had announced its plans to file
earlier in the week. According to industry insiders, Cannondale
will resume bicycle and apparrel production and shipments by
late this winter. Read Cannondale's Press Release Here: http://www.cannondale.com/company/investor/013103.html
Aug 29, 2002 - (Bicycle
Retailer) Recumbent
Manufacturer BikeE Shuts Down With Little Notice - Bob Brown, president, cited
increased operating costs for the shutdown. BikeE was the largest
recumbent bicycle manufacturer in the US having sold 30,000 bicycles
since 1992, including sales of nearly 10,000 units last year.
To read the whole story, visit Bicycle Retailer & Industry
New's Web site by clicking HERE.
Jul 27, 2002- (Bicycle
Retailer) Attention Avid Disc Brake Users - Avid has
issued a caution to its retailers and customers regarding a potential
hazard. Specifically, if too much of the brake cable is left
sticking out past the cable anchor bolt it could be pulled into
the caliper by the rotor, resulting in a wheel lock situation.
If you have Avid's discs to your road or off-road tandem, please
check and be sure that your excess cable has been trimmed back
enough to keep it clear of the rotor. To read the item at Bicycle
Retailer & Industry News click HERE
Jul 24, 2002 - (DF)
CPSC, Cane Creek Announce Recall of Bicycle Suspension Seat Posts - In cooperation with the U.S. Consumer
Product Safety Commission (CPSC), Cane Creek Cycling Components
(Cane Creek), of Fletcher, N.C., is voluntarily recalling about
7,700 bicycle suspension seat posts. The seat post's cradle,
which attaches to the bicycle seat, can break, posing the risk
of falls and serious injury to riders. Cane Creek has received
18 reports of cradles breaking; though, no injuries have been
reported. The recalled THUDBUSTER Suspension Seat Posts are black
and silver and have a range of serial numbers between 10894 and
18710. The serial number can be found inside the seat post's
tube toward the bottom of the post. The words, "Cane Creek"
and "Thudbuster" are also printed on the seat post.
The seat posts are made in the U.S. Independent bicycle dealers
nationwide sold these seat posts between November 2000 and June
2002 for about $140. Consumers should stop using these seat posts
immediately and return them to the company for a free repair.
Consumers should contact Cane Creek Cycling Components at (800)
234-2725 between 8:30 a.m. and 5:30 p.m. PT Monday through Friday
.
Jun 02, 2002 - (T@H) Vision
Recumbent Bicycles Issues Inspection Notice For All Double Vision
Tandems - On May 30,
Vision Recumbent Bicycles reported a third tandem frame failure
and in this regard requests all current owners immediately inspect
their tandems for signs of potential trouble. Further, they urge
owners NOT to ride their tandems until the inspection is completed.
For complete details visit Vision's
Web site Inspection Information Page.
May 20, 2002 - (TTL) Ventana Beefs Up Rear Swingarms
To Meet Demands Of Larger Disc Brakes - Ventana Mountain
Bikes USA, Inc. has redesigned the drop-outs of it's 2002 model
year El Conquistador full suspension tandem mountain bikes and
initiated a retrofit program for all current owners. According
to Sherwood Gibson at Ventana, "we have had a couple of
failures of our 2002 swingarms at the left rear dropout for El
Conquistador owners using 8" disc rotors." Ventana
is now in the process of replacing all 2002 El Conquistador swingarms
under warranty, regardless what size disc is being used. Owners
of 2002 El Conquistadors -- readily identifiable by rear swing
arms fitted with quad-set sealed bearings -- are asked to contact
Ventana by Email at: Info@VentanaUSA.com , or by Phone at: 916.631.0544
for additional details. Prior model year El Conquistador frames
and the El Testigo frames are unaffected.
Feb 22, 2002: (Bicycle
Retailer) Bike E Recalls 13,000 Bikes / E2 Tandem Included
- Bicycle Retailer reports that Recumbent maker Bike E is recalling
more than 13,000 bikes for replacement of the seat slider. The
recall effects several Bike E models including the 2000 and 2001
E2 Tandem. Update: Aug 29 - Unfortunately, you'll note that BikeE
closed its doors on August 29. Owners and former dealers are
now on their own.
Nov 16, 2001 - (Bicycle Retailer Editorial Staff)
Pacific Cycle Recalls Ally Cat Tandem -Pacific Cycle is
recalling 2,500 Ally Cat tandem bicycle accessories. The aluminum
hitch connecting the tandem accessory to the host bicycle can
fail, company officials said. Pacific Cycle received one report
of the connection failing, resulting in abrasions to the rider.
Full Article HERE
Where Can You Find Other
Recall Notices That May Pertain To Your Tandem And/Or Bicycles?
From time to time manufacturers
of bicycle products will issue a recall notice regarding a product.
How you find out about it is another issue altogether. FWIW:
Here are some links to sites where bicycle related recall notices
are cataloged:
http://www.totalbike.com/recalls/
http://www.bikehighway.com/recalls.htm
Consumer Product Safety
Commission (Home Page)
