AGU aquires Fast Forward Wheels
Family owned AGU Holding B.V. from Alkmaar, The Netherlands, has acquired all shares from Fast Forward Wheels B.V. FFWD is operating out of the city of Zwolle in The Netherlands. It is a young company and brand, specializing in the development, assembly and distribution of carbon wheel sets for road bikes in the highest segment of the bicycle market.
FFWD was founded by Henk Schipper in 2006. Together with Roland ten Brinke he built FFWD to where it stands today: one of the most important players in the international market for carbon bicycle wheels. The laced wheels are hand built in the assembly factory in Zwolle. Over 80% of the FFWD wheel business is generated outside the Benelux countries, spear headed by Asia, the USA and the remainder of Europe. The company enjoyed strong growth and further growth is anticipated.
Both Henk Schipper en Roland ten Brinke, who remain in place as directors after the acquisition, decided to sell the the company to a larger organization which can facilitate and strengthen further growth of the brand. Both directors will focus on the development, innovation and marketing of the product lines and AGU Holding will offer support in administration, ICT and logistic expertise. FFWD will continue to use its current distribution channels and customer base. AGU B.V. (not being the Holding) will not play a role in the distribution of FFWD, because AGU B.V., as an operating company from AGU Holding B.V, has other wheel brands in its product portfolio.
FFWD employs 12 people who all are, or have been active in the bicycle industry, the road racing sport or have affinity with the bike industry through previous jobs. There will be no changes or consequences for the FFWD employees as a result of the acquisition. FFWD will continue to operate independently from its current location in Zwolle.
To AGU Holding B.V, the acquisition, which is retroactive per January 1, 2012, of FFWD, is a welcome addition to the current portfolio of operating companies. Together with AGU B.V. , Jacobsons B.V. and Hesling Products B.V. the company expects to strengthen its position in the bike industry in the areas of purchase and export. As a result of the strong export position of FFWD, AGU Holding believes it can harvest synergies with its operating companies. Within the foreseeable future the owners of AGU Holding B.V., family Van den Kommer, expect to acquire 1 or 2 more companies within the bike industry.
In the picture from left to right: Dirk de Boer, Peter van den Kommer (both AGU Holding), Henk Schipper, Roland ten Brinke (both FFWD), Jaap van den Kommer (AGU Holding).