Schwinn Cycling & Fitness is being acquired by the Michigan-based Questor Partners in a deal Schwinn hopes will give it “the pump we need.”
Terms of the deal weren’t disclosed Wednesday.
Schwinn, a leading designer, manufacturer, marketer and distributor of cycling and fitness products, will continue to operate under the Schwinn name.
Schwinn was a leader in the cycling industry for more than a century, but filed for Chapter 11 bankruptcy protection in 1992. Scott Sports Group bought the company in 1993 and moved the headquarters from Chicago to Boulder.
Scott Sports Group, owned by the Zell/Chilmark Fund and Scott Partners, said Questor Management Co. “is an excellent partner to continue the progress SSG has made in re-positioning Schwinn in the marketplace.”
Questor, based in Southfield, Mich., manages Questor Partners Fund, established to acquire “special situation” companies.