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Timbuk2 Acquired by Private Equity Investors

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SAN FRANCISCO, US (Oct 27) – Timbuk2 Designs, Inc., a San-Francisco based manufacturer of bicycle messenger bags, computer carrying cases and other urban-lifestyle bags and accessories, announces the acquisition of a majority ownership of the Company by private equity investors and a significant cash bonus to all non-management workers who participate in the Company’s Employee […]

SAN FRANCISCO, US (Oct 27) – Timbuk2 Designs, Inc., a San-Francisco based manufacturer of bicycle messenger bags, computer carrying cases and other urban-lifestyle bags and accessories, announces the acquisition of a majority ownership of the Company by private equity investors and a significant cash bonus to all non-management workers who participate in the Company’s Employee Wealth Sharing Program.
The program was established by Mark Dwight, CEO of Timbuk2, and the Company’s previous majority investor, San Francisco-based Pacific Community Ventures (PCV). “The Timbuk2 sale is a double-bottom-line home run,” said Eduardo Rallo, Managing Director at PCV and previous Timbuk2 Board Member. “PCV’s investors are receiving a well-above-market return on their investment, while Timbuk2’s lower-income workers are sharing significantly in the financial upside of the value they helped create.” (MH)

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