Cervélo insists possible sale would not damage company
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Wednesday, December 28, 2011

Cervélo insists possible sale would not damage company

by Shane Stokes at 8:13 PM EST   comments
Categories: Pro Cycling, Tech News
 
Canadian framebuilder moves to play down uncertainty

Cervelo Test TeamDays after announcing that it had entered into a financing arrangement with Dutch company PON Holdings BV, the Cervélo frame company has admitted that a sale is possible but insists that it would have no negative effects.

The Canadian company provided further details on its website on Wednesday, posting a follow up message which is intended to try to assuage concerns about its future.

“To answer some of your questions, here is a bit of background,” it stated. “Cervélo has experienced exceptional growth and success since we started 16 years ago. A potential sale of the company allows us to continue to grow Cervélo without changing any of the things that make it special.

“Cervélo will continue to be based in Toronto, with the same team of people, with the same desire to engineer the best bikes on the planet. It will stand by old products and create exciting new ones, starting with the new P5 which will be launched next month. Stay tuned.”

The company has been rumoured to have been under some financial pressures as a result of its backing of the two year Cervélo Test Team project. That was expected to continue for a longer duration but was called off last year.

At the time its management blamed what it said were the ‘financial pressures on professional cycling.’

The Cervélo company was founded in 1995 by Phil White and Gerard Vroomen. It has supplied bikes to CSC, the Cervélo Test Team and Garmin-Cervélo, and will continue to work with the latter in 2012.

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