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Principia Got Importing Owners

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KOPENHAGEN, Denmark (May 21) – High-end frame maker Principia A/S partly changed its owners from May 15. Founding owners Gert and Niels Spender-Andersen left the company and have been replaced by Principia distributors RBS Equipment of England and ACS Vertrieb from Germany with a 33.3% stake each. Its third 33.3% owner and former sales and […]

KOPENHAGEN, Denmark (May 21) – High-end frame maker Principia A/S partly changed its owners from May 15. Founding owners Gert and Niels Spender-Andersen left the company and have been replaced by Principia distributors RBS Equipment of England and ACS Vertrieb from Germany with a 33.3% stake each. Its third 33.3% owner and former sales and marketing manager Seamus Grannell has been appointed as its Managing Director. This bike season Principia saw its frame production numbers rise to 10,000 units worldwide, up from 7,500 units by 2001 with 30 employees. “To accommodate further growth, Principia will be able to attract more capital from banks”, says Principia’s Dutch distributor Astir Equipment’s Jan Eikelenboom. Prices of Principia’s frames range from € 950 to € 2,000. Germany is its biggest market, closely followed by the UK, Benelux and Switzerland. First sales occurred in Spain, Italy, Australia and the USA. Some 12 years ago, three students from the Aalborg University started to manufacture a triathlon bicycle. “This ran somewhat out of their hands”, understated Eikelenboom. (FN)

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