Belgian Holding Famo (Sapim) Takes Over Ryde International (Rigida)
Ryde International, formerly known as Rigida International, the leading manufacturer of aluminum and stainless steel rims for bicycles, announces that it has been taken over by the Belgian holding company Famo NV of the Moorkens family. The transaction took place in October 2011 for…
BOXMEER, the Netherlands – Ryde International, formerly known as Rigida International, the leading manufacturer of aluminum and stainless steel rims for bicycles, announces that it has been taken over by the Belgian holding company Famo NV of the Moorkens family. Famo NV is an industrial investor having participations in various industrial and commercial companies out of which Sapim, the worldwide reference for quality spokes and nipples. The transaction took place in October 2011 for an undisclosed amount.
This acquisition was a good opportunity for Famo NV to increase its presence in the growing bicycle industry. Moreover, both companies are complementary in terms of geographical presence. While Sapim produces spokes and nipples in Belgium and France, Ryde International manufactures rims in the Netherlands, Hungary, Malaysia and China.
Both companies will continue to be managed independently and keep their own management team. This will ensure the preservation of each company’s efficiency, uniqueness, and culture. As part of the transaction, Ryde International agreed to stop the design, conception and assembling of wheelsets. The company started these activities in 2007. The shareholders of both companies do not want to be continue it.
To coordinate both activities and run Sapim directly, Famo has recruited a new manager, Amaury de Cordes (39). Before joining Sapim and Ryde International, Mr de Cordes has worked for Michelin and more recently for Reynaers Aluminium. Amaury de Cordes says on the Ryde takeover by Sapim: “When meeting with the Ryde International team, we have found a group of professional and dedicated people that shares the same passion for the design and production of quality products as well as for serving customers. This acquisition will help both companies to continue to grow in a stronger environment.”