Private Equity Company Invests in Currie E-Bikes
CHATSWORTH, US – Currie Technologies has been acquired by Risk equity Partners. Larry Pizzi, President of Currie Technologies will continue to lead the new company which will operate from its existing location in Chatsworth. This acquisition provides numerous opportunities to strengthen
CHATSWORTH, US – Currie Technologies has been acquired by Risk equity Partners. Larry Pizzi, President of Currie Technologies will continue to lead the new company which will operate from its existing location in Chatsworth.
“This acquisition provides numerous opportunities to strengthen our position with strategic financial and management resources that were not previously available”, says Pizzi. Currie Technologies is active in the design, marketing and distribution of light electric vehicles including bicycles, scooters and other transportation and recreational products. Today, Currie Technologies claims to be the largest E-bike seller with the brand iZIP in North America.
In late July of last year, Currie Technologies Inc. had announced that it was forced to file a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code after loosing a significant legal dispute with a large electric utility company, Central and Southwestern Corporation (CSW), that dated back to 2001 when CSW’s subsidiary, Total EV – a distributor of electric vehicles, rapidly wound down operations after it was acquired by American Electric Power, adversely effecting Currie’s business.
Currie Technologies was founded in 1998 by Dr. Malcolm R. Currie, the former chairman and CEO of Hughes Aircraft and Delco Electronics, on the conviction that electrically driven vehicles will become increasingly important for fundamental environmental and economic reasons, and that new and large international markets will emerge.
Caption: Stuttgart’s Mayor Sr. Martin Schairer riding an iZIP at the Bike World Cup course last year.