New York, NY (November 30, 2021) – Revel Bikes (“Revel”) of Carbondale, CO has partnered with Next Sparc Growth Partners (“Next Sparc”) of Chagrin Falls, OH. Sperry, Mitchell & Company initiated this transaction, assisted in the negotiations, and served as exclusive financial advisor to Revel Bikes.
Revel Bikes (www.revelbikes.com) is a leading designer and manufacturer of premium mountain bikes. Founded in 2016 by Adam Miller, Revel worked with Chris Canfield to bring his legendary Canfield Balance Formula (“CBF”) suspension platform to carbon fiber mountain bikes. Indeed, Revel is the only brand offering CBF on high-end carbon bikes. The use of CBF suspension, combined with exceptional attention to detail in product development and industry-leading customer service, has led Revel to rapid growth.
On the basis of numerous outstanding reviews and awards in all major cycling publications, Revel has grown to be a prominent player in the high-end mountain bike space in only a few short years. Indeed, the Rascal won Outside Magazine’s “Best Overall Mountain Bike of 2020,” and the Ranger won Outside Magazine’s “Best Short-Travel Cross-Country Mountain Bike of 2021.”
“I couldn’t be more thrilled to partner with Next Sparc. I have been amazed at the success we have had in the last three years with Revel Bikes, and my goal is for our success and growth continue at an even greater trajectory,” said Adam Miller, CEO of Revel. “This long-term partnership with Next Sparc will ensure Revel grows into one of the leading mountain bike brands in the industry. Our focus has always been on
making the best products, offering the best service, and having the most fun. Working with our new partners is the next step to continuing that mission.”
Next Sparc Growth Partners (www.nextsparc.com) is a Cleveland-based, family office that makes direct investments in rapidly growing founder-led businesses. The firm is guided by its investment philosophy: “To build exceptional businesses and teams for the long term, and accelerate lasting, sustainable growth, rather than focusing on short-term exit strategies.”
“This partnership was right in our wheelhouse, no pun intended,” says James Carey, Partner and Head of Business Development at Next Sparc. “Our goal is to build partnerships with like-minded founders who are ready to experience how business building expertise and proven entrepreneurial best practices can be the indelible ‘Sparc’ that takes their business to the next level.”
Sperry, Mitchell & Company (www.sperrymitchell.com) is an investment banking firm specializing in sell-side, middle-market merger & acquisition advisory services. Since the firm’s founding in 1986, Sperry Mitchell has completed hundreds of transactions in a wide range of industries, with values ranging from $20 to $500 million.
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