BOLDER, Colorado (BRAIN) – Titanium bike and component maker Janus Cycle Group announced Thursday that it has sold all of the company’s assets to Phil Joseph, a former head of real estate.
An avid cyclist Joseph acquired 100% interest in assets including Merlin Metalworks, Dean Titanium, Knight Composites, Ionic Bikes and Rossin Bikes. The headquarters will remain in Boulder and all current staff, including founder Dean and chief builder John Seagrist, will remain to ensure continuity of operations during the transition.
Financial terms were not disclosed and the sale is effective immediately.
“I am thrilled to have this incredible opportunity to own a pioneering titanium bike brand at Merlin Metalworks, a world renowned manufacturer of handcrafted titanium frames that started in 1986,” said Joseph. “I also look forward to helping John and the customer-centric Janus team build and grow their flagship brands as we embark on our exciting growth trajectory with customers, riders, dealers and distribution partners around the world.”
Joseph previously served as Chief Financial Officer for Spirit Realty from 2015 to 2018. He also worked as the global treasurer of Prologis, areal Estate investment trust company, during his 13 years there. Joseph holds a BA in Economics and Management from DePau University and an MBA from the Graduate School of Management. J.L. Kellogg of Northwestern University.
“With the acquisition of Merlin and Knight, Janus has seen tremendous growth over the past three years, ”said Sigrist. “I look forward to working with Phil and the Janus team on the next chapter of our growth.”
The Janus Cycle Group has been manufacturing frames in Boulder since 1989. Frames and components manufactured by Janus are available directly to the consumer and from dealers around the world.