BOULDER, Colo. (BRAIN) — Titanium bike and component manufacturer Janus Cycle Group announced Thursday it sold all company assets to Phil Joseph, a former real estate executive.
Joseph, an avid cyclist, purchased 100% ownership stake in the assets, which include Merlin Metalworks, Dean Titanium, Knight Composites, Ionic Bikes, and Rossin Bikes. Headquarters will remain in Boulder, and all current employees — including Dean founder and master builder John Siegrist — will remain to ensure continuity of operations during the transition.
Financial terms were not disclosed, and the sale is effective immediately.
“I am excited about this incredible opportunity to own a pioneering titanium bike brand in Merlin Metalworks, an internationally known builder of hand-crafted titanium frames that started in 1986,” Joseph said. “I’m also looking forward to helping John and the customer-focused Janus team build out and grow their premier brands as we embark on our exciting growth trajectory with customer, racing, dealer and distributor partners worldwide.”
Joseph previously served as chief financial officer at Spirit Realty from 2015-2018. He also served as global treasurer for Prologis, a real estate investment trust company, during his 13 years there. Joseph received a bachelor’s degree in economics and management from DePauw University and a master’s of business administration from the JL Kellogg Graduate School of Management at Northwestern University.
“With the purchase of Merlin and Knight, Janus has experienced tremendous growth over the past three years,” Siegrist said. “I look forward to working with Phil and the Janus team on the next chapter of our growth.”
Janus Cycle Group has manufactured frames in Boulder since 1989. Janus’ fabricated frames and components are available direct-to-consumer and from dealers worldwide.