Bryan Kelln, President & CEO of RockShox, said:
"We are very pleased to complete the sale process, and we are now completely focused on running the business and on integrating RockShox with SRAM.
"Under SRAM’s leadership, we are forming global integration teams, which will work together over the coming two months to put together specific objectives, plans and timelines. Later this spring, we will have a specific set of initiatives designed to integrate the businesses, enhance customer satisfaction, and accelerate product development, all the while reducing the cost structure."
Day, President of SRAM corporation, said:
"We look forward to building on what the RockShox team has achieved over the past few years. They drove significant restructuring, taking out more than $10 million in cost. They have created a nice platform from which we can continue to improve.
"Now, with our combined product development capabilities, RockShox’ strength in the mountain bike segment and SRAM’s strength in the pavement sector, we are poised to take both businesses to a higher level of performance. Clearly the strategic fit made sense for the industry; with our complementary product lines we can bring more value to the global bicycle business in a ‘one stop shopping’ environment. Each business can help the other move to the next level."