American Bicycle Group (ABG) has announced a reorganization of the corporate structure which will give majority control of the corporation to current CEO and President Peter Hurley. Mr. Hurley arrived at ABG in 2007 and quickly began the work of expanding the legendary titanium brand, Litespeed, and triathlon brand, Quintana Roo into full-fledged lifestyle and cutting-edge technology brands, officials said.
The array of new bike models, innovative technology, and widespread praise keep coming. “In 2010, our Litespeed C-series was selected Editor’s Pick at Velo News," said Mr. Hurlely. "This year, early reviews for the all-new L-series and the Cohutta 29er have been great. I'm proud of that. Of course, the QR Illicito just won the Most Innovative Award from Triathlon America, as well. With the continued consolidation in the industry, more and more brands being sucked up by these corporate entities, ABG will continue to have a real opportunity and freedom to innovate, push the envelope, and develop these premier boutique brands. There's not a person in this organization who isn't working toward that goal.”
This excitement appears to be shared by North American dealers as well. So far in 2012, Litespeed and QR have experienced an 11 percent sales increase with current and new dealers. The expanding dealer base grew 14 percent over 2011 in key markets such as the North East and Florida and is also contributing to sales growth.
For more information on Litespeed, please visit www.litespeed.com
. For more information about QR, please visit www.quintanarootri.com
Litespeed, founded in 1986, produces and manufactures road bicycles and bicycle frames. The company initially made its mark with titanium, but has been successful with carbon fiber as well. Quintana Roo, founded in 1987, produces triathlon equipment. The company was the first to create triathlon-specific bicycle and wetsuit designs. Litespeed and Quintana Roo are owned by American Bicycle Group, located in Chattanooga.