Business Services Industry
Investor Looks to Sell Interest in Pacific Cycle of Madison, Wis.
Knight Ridder/Tribune Business News, February, 2003
By Lisa Schuetz, The Wisconsin State Journal Knight Ridder/Tribune Business News
Feb. 8--A significant investor in Pacific Cycle of Madison is looking to sell its interest in the company.
Wind Point Partners owns 43 percent of Pacific, the country's largest bike distributor. Wind Point is valuing the company at $500 million.
Pacific spokesman Rich Wittenberg confirmed Friday that Wind Point has hired an investment bank to explore selling its portion of the company. Industry insiders say the investment bank is CIBC World Markets of New York.
"It is common for equity investors to change as a regular course of an investment cycle," Pacific chief executive officer and founder Chris Hornung said in a prepared statement. "A...
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